The journey of MyFundBazaar started when I was working with HDFC AMC & I’d gone with my father to invest his retirement corpus. We’d been to various advisors & banks. Being a part of the industry, I couldn’t see the lucidity and authenticity that otherwise was supposed to be the bedrock of the mutual fund industry. Moreover, there was no technology support.
My parents, being retirees, had to travel distances, different locations, meet plenty of people to get financial plans and advice.
I took that as an opportunity and initiative to create my own company with these basic objectives – transparency, truth & technology – which has been unaccounted for in the last mile of connectivity today in India.
2. What are the various services and products provided by your company?
MyFundBazaar, the one-stop platform for one’s financial needs, tracks their client’s spending patterns and optimises their savings, has a plethora of services to offer.
The newest feature of the MyFundBazaar App is the ONLINE ATM – an avenue to park your emergency funds where you can grow your money with instant liquidity, zero penalties, and you do not have to start with a massive sum.
Smart calculators are available where you can calculate the amount you need to be investing for your respective goals, be it – car planning, education planning or even retirement planning, keeping a specific duration & rate of interest in mind. Our company’s team of experts have handpicked recommended funds that have calculated risk & maximum return on investment (ROI).
Also, the GPS Goal Tracker is where every MyFundBazaar client can track their goals, put a timeline to it, and the company’s AI-based system will take them closer to their financial freedom.
3. What makes MyFundBazaar different from other firms?
The newest feature of the MyFundBazaar App, the ONLINE ATM, can withdraw Rs 50,000 per day per person, which means that the total available liquidity, depending on the size of the family, is 3 Lakhs, considering one can instantly withdraw all their money within a few minutes.
For every client investing Rs 50,000 with MyFundBazaar, we make as low as Rs 2 per month, providing the best of technology, making each account secure, efficient & reliable for you to achieve your financial freedom & goals.
This philanthropic initiative is how MyFundBazaar wants to give back to society when emergencies come unannounced.
4. What are the struggles and challenges you face?
Every great success & accomplishment comes with a struggle. For the mutual fund industry, it is no different. Despite providing various digital services like the ONLINE ATM, Smart Calculators, GPS Goal Tracker etc., a large segment of the Indian population prefer traditional investment avenue streams like gold, stocks, real estate, fixed deposits etc.
Several Indians fail to see the utility that MyFundBazaar offers through their innovative products & service due to financial illiteracy & lack of awareness.
5. How do you plan to grow in the future? What do 5 years down the line look for MyFundBazaar?
Like every business, we plan to grow, upgrade & evolve, focusing solely on keeping our clients happy.
The company’s 5-year plan is to help a million Indians achieve financial freedom.
6. If you had one piece of advice to someone just starting, what would it be?
With basic cliche advice like – identifying one’s niche, choosing the right tech stack in order to avoid risking data breach & building credible partnerships, MyFundBazaar would advise every upcoming FinTech company to know their clients well & in a tech-savvy market, keep the human touch as significant.
Always prioritise the customer over the competition.