Liquide Solutions Pvt. Ltd, which runs an eponymous wealthtech platform, on Wednesday announced raising $2.2 million in pre-seed funding from Singapore-based M Venture Partners and angel investors including Kunal Shah of Cred; BharatPe’s Shashvat Nakrani and Suhail Sameer; Ruchi Kalra, Ashish Mohapatra and other members of the Founders Fund by OfBusiness.
Other participants in the round included Darwinbox co-founders Chaitanya Peddi, Jayant Paleti & Rohit Chennamaneni; Uber India president Pradeep Parameswaran; Shantanu Deshpande, founder, The Bombay Shaving Company; Treebo’s Rahul Chaudhary and Sidharth Gupta; SimSim’s Kunal Suri; Siddharth Jayanty of SoftBank; Woolworths’s Amitabh Mall and Sandeep Singh and Rajeev Kumar and Sakshi Sinha of Alkem.
Founded in 2021 by Anuj Bajpai, Paritosh Gunjan, Aniket Shirke and Kunal Ambasta, the Bengaluru-based startup provides users access to actionable insights such as automated buy/sell alerts and smart nudges based on their portfolio and market trends.
The private wealth advisory app is planning to use the funds to build a plug-and-play stock advisory layer to power existing brokerage accounts such as Zerodha, Upstox and Groww.
It has partnered with six brokers, including Zerodha, Upstox and Groww, and plans to tap 90% of demat account holders in India in the next few months. According to a statement, the app has been downloaded over 35,000 times so far.
Liquide also recently launched LiMo, an artificial intelligence and machine learning-based bot supervised by SEBI-licenced research analysts and investment advisors. It claims that the bot has already provided hundreds of in-depth stock reports to investors.
“The majority of these new demat accounts since 2020 are of investors below 34 years of age, have limited understanding of the markets and are heavily influenced by their social circles. We want to guide investors with ready-made research and become the de facto reference point for their retail equity investments,” said Anuj Bajpai, founder and chief executive officer, Liquide.
The company also offers personalized wealth consulting to its customers, who can connect with SEBI-registered financial advisors for financial management advice for their investments. It plans to go live this month for NRI investors across six countries - Singapore, the US, Canada, the UK, UAE, and Australia.
“Anuj and the Liquide team are making stock investment accessible and effortless for first-time investors. The traction we are seeing in the early days is encouraging,” said Mayank Parekh, founder and CEO at M Venture Partners.
