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New Startup Pushes Personal Finance Into the Hands of Indian Women

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New Startup Pushes Personal Finance Into the Hands of Indian Women

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Basis, a Bengaluru-based fintech startup, is hoping to change the look of personal finance for Indian women.

In the USA and other developed countries, up to 50% of adults make investments, and half of these are women. In India, this is not the case, with a mere 3% of Indians investing in the stock market, with figures showing that almost none of these are women. A graduate from the Wharton School in the US has decided to do something about the sorry statistics.

Hena Mehta worked on Wall Street before moving back to India to work at enterprise universal payments solutions Ezetap in Bengaluru (Bangalore), India’s third most populated city and hi-tech hub. Her new project is Basis, an online women-focused personal finance startup. Mehta explained:

“The idea was born out of my own pain point: I realized I wasn’t owning my personal finance and investing decisions, even though I have a prestigious MBA and worked in financial services.”

Her new company has recently benefited from an undisclosed amount of seed funding from India/US-based investors Nitin Saigal, Daniel Jacobs and Dahm Choi, having been successful in receiving a SEBI Registered Investment Advisor (RIA) license recently on 25 February.

Mehta wants to transform financial education and financial decision-making for Indian women in the country empowering them to take more control of their financial futures. She commented:

“In the next few years, we expect to be a full-service personal finance platform serving the financial needs of first-time investors, particularly the Indian women.”

Last year, it was reported that Indian women were investing more in cryptocurrency than men.

 

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