In January, Ajinkya Kulkarni, chief executive (CEO) and co-founder of online bond trading platform Wint Wealth, tweeted tweeted Twitter Ajinkya finfluencer tweet Read more this eye-catcher.
Getting the whos-who of India’s finfluencer finfluencer The Ken Sebi loopholes, bull run gave financial influencers wings… Read more world to act as its brand ambassadors brand ambassadors Livemint Wint Wealth raises undisclosed round from celebrity finfluencers Read more in exchange for equity stakes was a coup of sorts. The Bengaluru-based company is only two-years-old—practically a greenhorn.
And yet, it wouldn’t be the first time that Wint Wealth pulled off a surprise. In early 2021, the company raised money in its first seed funding round from another set of whos-who in India’s fintech space—Nithin Kamath, co-founder of online trading startup Zerodha; Kunal Shah, co-founder of credit card payments startup CRED; Praveen Jadhav, former CEO of payments behemoth Paytm, among others.
The company specialises in bonds, a type of debt security in which the buyer “lends” to the company issuing the bond. Bonds are risky—if the issuer defaults, investors lose money. “If even one company defaults on the debt taken, the trust of the retail investor will be lost for good. Instant gratification will not help in this business. Good businesses take time to develop,” says Ankit Gupta, founder and director of Mumbai-based bond trading platform BondsIndia.
It’s the reason why India’s ~Rs 40,00,000 crore (~$500 billion) bond market has been largely restricted to institutions and high-net worth individuals (HNIs)—entities that can afford to swallow the risk. Businesses continue to borrow mostly from banks banks The Hindu BusinessLine Corporate loan growth turns positive in FY22 Read more rather than from the bond market bond market The Economic Times Fund raising via debt placement hits 6-yr low at Rs 5.88 lakh cr in FY22 Read more , and most individual investors stick to the safety of bank fixed deposits ( FDs FDs Outlook Mutual Funds In India Yet To Find Wider Acceptance, Fixed Deposits Still Rule: Report Read more ) over other financial instruments.