Candidature YC de Spenny

Winter 2020Active

Spenny a été sélectionné par Y Combinator dans le cadre du batch Winter 2020 en tant qu'entreprise Fintech. Ci-dessous : ce que fait l'entreprise, qui l'a fondée, et sa candidature à YC, reconstruite question par question dans le vrai formulaire YC.

Batch YC: Winter 2020
Secteur d'activité: FintechConsumer Finance
Taille de l'équipe: 2
Statut: Active
Lancé: 2020

Fondateurs

Gaurav AroraFounder

Ce que fait Spenny

Spenny is the Acorns for India. Every time a user make any digital transaction, we round off the amount to the nearest 10 INR and invest it for them into a diversified portfolio, automatically. 400M millennials in India don't invest because they don't have enough time, knowledge or access to large capital. With Spenny, they just connect the card and invest every time they spend. We're growing 67% WoW since launch, with 3,000+ users and $15,000 in AUM. Indians put $500Bn into their bank accounts annually. We charge 1.75% of the AUM for investments. That's a direct ~$9Bn market in India alone. Potentially every time a user makes a transaction, we make money. And in that sense, the timing for Spenny couldn't have been better: 1 Trillion+ transactions are expected in 2021 because of factors like Whatsapp launching its P2P payments in India for its 400M users. And the emergence of UPI means every Indian has a virtual bank account now. More interesting revenue models develop from the transaction data insights of our users. We analyse the rich data to A) up-sell more financial products like insurance etc., and B) create brand loyalty programs & partnerships. We acquire customers at minimal CAC by bank partnerships. We leverage the banks' existing users, by integrating with their mobile app. In turn, we invest into their mutual funds. Our long-term vision is to become a one-stop asset management solution for millennials.

Candidature YC de Spenny, reconstruite

Candidature Y Combinator

Spenny, promotion Winter 2020. Les vraies questions de candidature, répondues à partir de données publiques.

Founders2
Company7
Progress7
Idea4
Equity3
Curious2
Batch Preference1

Company

Company name

Spenny

Describe what your company does in 50 characters or less.

Acorns for India: round-up investing automatically

What is your company going to make? Please describe your product and what it does or will do.

We built Spenny to automatically invest users' spare change from digital transactions in India. Every time a user spends digitally, we round up the transaction to the nearest 10 INR and invest the difference in a diversified portfolio, making investing effortless for millennials who don't have the time or knowledge to manage investing themselves.

Where do you live now, and where would the company be based after YC?

We currently live in Bengaluru, KA, India, and plan to keep the company based there after YC.

Explain your decision regarding location.

India is where the problem exists: 400M millennials don't invest due to barriers like lack of time, knowledge, and access. Bengaluru is our home and a fintech hub. Staying here keeps us close to regulators, banks, and users.

21 réponses supplémentaires dans la candidature complète

se trouvent dans la version complète. Créez un compte gratuit pour l'ouvrir dans YC Insights, à côté de tous les autres batches YC.

Voir la candidature complète

Questions fréquemment posées

Est-ce la vraie candidature YC de Spenny ?

Non. Y Combinator garde les candidatures soumises privées. Ceci est une reconstruction : les vraies questions du formulaire YC, répondues à partir des données publiques de Spenny (notes de lancement, parcours des fondateurs, description du produit). Cela montre comment une entreprise comme Spenny se présenterait à YC, pas le texte qu'ils ont soumis.

À quel batch YC Spenny appartenait-il ?

Spenny faisait partie du batch Winter 2020 de Y Combinator.

Qui a fondé Spenny ?

Spenny a été fondé par Gaurav Arora.

Que fait Spenny ?

Acorns for India. Every time you swipe you make a digital…

Comment lire la candidature complète reconstruite ?

Créez un compte Round Funded gratuit. La version complète de la candidature de Spenny en 26 réponses, et de chaque autre promotion YC, se trouve dans YC Insights.