Winvesta, a global investment platform, launched amidst COVID-19 crisis
Jun 22, 2020
Mumbai (Maharashtra) [India], June 22 (ANI/PRNewswire): Winvesta, a global investment platform which allows Indian users to invest overseas, went live in late March, despite the COVID-19 pandemic. Founders Swastik Nigam and Prateek Jain took this bold step even as COVID-19 brought the country to a standstill.
Winvesta is a newly launched UK-headquartered platform with operations in India and the US. It provides Indian investors an opportunity to diversify their portfolio and invest globally.
Ridding people of the preconceived notion that investing overseas is only for the uber-rich, Winvesta enables Indian users to invest in global brands they know, use and love, with a simple and streamlined process. No physical document upload and no archaic paperwork is required -- the entire KYC process can be completed on one's phone, in less than 10 minutes.
Earlier last month, Winvesta announced a partnership with DriveWealth, LLC, a U.S. based leader in global digital trading technology, to facilitate greater access for investors in India. This partnership will let Winvesta clients buy fractional shares at real-time market prices in familiar US brands such as Facebook, Google, Amazon, and Apple.
Elaborating their experience of going live amidst the COVID-19 chaos, CEO and Founder of Winvesta, Swastik Nigam said, "Everyone in the team had been working laboriously for over 6 months across 4 countries and 5 cities. Moving to remote work was not easy, but we adapted quickly. We wanted to be sure that we were meeting our regulatory obligations and our technology infrastructure was working well. Beyond that, now was as good a time as any. We have had many clients on our waitlist who had been awaiting the product and there was no reason to delay. We may now possibly be the first-ever regulated brokerage to go live with a 100 per cent remote team. It feels very accomplishing."
On what inspired them to launch the platform, New York-based Prateek Jain, Co-founder of Winvesta said, "We've had an unmitigated access to investing in assets across the world, but India didn't. We each bring over a decade's experience working in global investment banks across London, New York, and Singapore. Data shows that very little retail Indian wealth is invested beyond its shores and we want to help Indians own more of the world. We want to empower the Indian investor by removing the high transaction fees that they have previously needed to pay. This is why our platform has no significant upfront costs, no annual tie-ins, no minimum thresholds. But we also keep it very transparent for our clients - including in how we are organized regulatorily. We keep our communications honest and client-centric."
Winvesta went live on March 27, 2020, two days after India went into national lockdown. The Winvesta App is available on Android and will soon be available for iOS.
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