The Indore, India-based start-up plans to utilize the funds in hiring talent, expanding office infrastructure, technology upgradation and customer acquisition.
Founded in 2016 by IIT Delhi graduate and technology & finance professional, Parth Nyati, and chartered accountant and former investment banker, Amit Gupta, TradingBells aims to make trading easy, accessible and transparent for retail investors by leveraging cutting edge technology and automation.
It offers zero brokerage on delivery-based transactions, and lower of INR 20 (approx US$0.295) or 0.01% of the turnover per executed order for intraday and F&O transactions.
Commenting on the development, Amit Gupta, Co-founder and CEO, TradingBells, said, “Discount broking is the future and this investment from a leading industry player like Swastika validates our belief. Since our inception this year, we have witnessed great traction in terms of customer acquisition and are already generating sizeable revenues. The funds will further help us to scale rapidly and help us realize our goal of reaching 100,000 customers and INR 450 million (approx US$6,635,169) revenue within the next three years.”
Reflecting on this milestone, Parth Nyati, Co-founder and COO, TradingBells, said:
“With Swastika’s successful track record of 18 years in the broking business, we are privileged to have on board an investor and mentor who can help transform our vision into reality. The association holds tremendous synergy for both players as TradingBells can leverage Swastika’s state of the art technology and nation-wide presence to accelerate growth, while Swastika gets a presence in the discount broking space, making their offering end-to-end.”
“In Amit and Parth we saw a team that had the talent, experience and passion to set up a successful business. With this seed funding, we want to forge a long-term partnership with Trading Bells to build a robust and profitable company,” said, Vinit Rathi, VP-Marketing, Swastika Investmart.