nikhilmantha

6 ms·

1. 1.▲
   by nikhilmantha 9y ago

   Hello! We have an offer running currently where when you invite 5 friends to complete sign up through us then all transactions via Piggy are free for you for life. Also regarding your investments. They are all in your name. You get the fina
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   by nikhilmantha 9y ago

   Thanks! We'll look into it. Try our Android app if you can. That is up to date. iOS app will be up to speed soon.
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   by nikhilmantha 9y ago

   Basically there are two plans in Mutual Funds. Direct and Regular. Both have the same securities, manager, structure etc. Only difference is that Fund houses pay commissions to agents on sale of regular plans, while there are no commission
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   by nikhilmantha 9y ago

   Our web is getting built as we speak. It should be up soon enough. We focussed most of our efforts on mobile till now because as a country we skipped desktops and jumped to mobile first. Regarding demat for Mutual Funds let's look at i
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   by nikhilmantha 9y ago

   Do take a look at the charges section in our app. We have something out there that might work for you! :) Also We focussed on building an easy to use app with seamless transaction platform that supports all fund houses first. The cake is in
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   by nikhilmantha 9y ago

   Hello balladeer! We do understand your concerns. The industry infrastructure needs a lot of upgrade especially the funds industry. Also the payment gateways need to improve a lot. Infact this has been our prime focus at Piggy. We have been
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   by nikhilmantha 9y ago

   Hi Naval.This is an extremely interesting question! Even when we were applying, we didn't think from this angle! :) Why YC made sense to us was because of it's network of super smart people who have seen a lot, done a lot. We want
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   by nikhilmantha 9y ago

   Do take a look at the charges section in our app. We have something out there that might work for you! :)
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   by nikhilmantha 9y ago

   Hello! Thanks for taking time to give us a detailed feedback. The pricing for all the services will remain competitive I'm sure. To start off with we made the app simple for people to use and on mobile as a lot of people would like to
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    by nikhilmantha 9y ago

    Fair point Yumraj! We will definitely do so in future updates of our website. We have been in ultra stealth mode before coming to YC. Till date we have acquired all our customers organically. The quality of our service has primarily brought
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    by nikhilmantha 9y ago

    Thanks a lot Amruta! You are absolutely right. MF industry has reached $300B assets with just under 1% population investing while over $800B sit in bank assets. The penetration is super low. We are definitely looking to educate our users i
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    by nikhilmantha 9y ago

    https://scripbox.com/pages/disclosures http://economictimes.indiatimes.com/mf/analysis/direct-plans...
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    by nikhilmantha 9y ago

    Thanks a lot jameshk! Currently there aren't any major roadblocks from a regulatory point of view. Infact the Indian market regulator is bringing forth many forward looking regulations and introducing the concept of fiduciary responsib
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    by nikhilmantha 9y ago

    True. But commissions are counted in the expenses towards the fund. So basically the NAV of the fund is nothing but the income of the fund minus the expenses. So more the expenses, less the NAV, less the return to the investor. In the end i
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    by nikhilmantha 9y ago

    Also our investments can be currently only in Indian Rupees. All these are based on regulations by the Indian Markets regulator 'Securities Exchange Board Of India' or SEBI
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    by nikhilmantha 9y ago

    Thanks Nikhil! Really appreciate the feedback. Our current target audience are working professionals between the ages of 25-35. A lot of them invest in substandard products and get ripped off or just let their money lie in their bank accoun
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    by nikhilmantha 9y ago

    Hello ing33k! Thank you! Account opening is completely online. We need your PAN card, Address Proof, Photograph, Signature on app and a Bank account proof. Since we do the full KYC it will take upto 3 business days for your account to be ac
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    by nikhilmantha 9y ago

    Hey dxbydt! Thanks for showing interest! Non Indians can invest with us if they have an Indian PAN card (Tax number) and an Indian Bank account (NRE/NRO type).
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    by nikhilmantha 9y ago

    Hello esteer! Thanks for your question. Important Difference. 1. Coin is based on Zerodha's kite platform and requires a demat account for investments. There are multiple disadvantages of using a demat account for mutual funds, one of
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    by nikhilmantha 9y ago

    Hello n3x10e8! We don't do that as that would limit you to an investment of Rs.50000/ fund house/ year. Plus there is lack of clarity around acceptance of Aadhar based e-KYC based on the new central KYC regulations. We do the
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    by nikhilmantha 9y ago

    Hey Nikant! When you invest Rs.10000 with Scripbox, they take 0.5-1.5% commission on that investment every year as long as 10000 remains invested and to whatever that amount grows to. So you are paying compounding commissions. Most Indians
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    by nikhilmantha 9y ago

    Thanks for pointing out! :)
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    by nikhilmantha 9y ago

    Www.piggy.co.in
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    Launch HN: Piggy (YC S17) – Investment App for India

    84 points by nikhilmantha 9y ago|58 comments