HomeNewsYobee raises undisclosed amount in series seed round

Yobee raises undisclosed amount in series seed round

Date:

Trending

- Advertisement -
Advertise During Budget
Advertise During Budget
Advertise During Budget
Advertise During Budget

Mumbai based stock trading platform, Yobee has raised an undisclosed amount in series seed round funding led marquee angel investors.  

The funding was backed by Dheeraj Jain, (Founder of Redcliffe LifeTech), Ruchirans Jaipuria (MD at Jaipuria Group), Shashidhar Jayaraman (Founder of PE firm Ask Pravi), Chetan Mathur (Ex-Director Pepsi).

- Advertisement -

“The platform plans to utilize the raised funds to further build out its technology stack and create multiple distribution channels by partnering with market intermediaries like brokers and platforms,” the statement said.

Yobee is attempting to simplify systematic trading by offering professionally created trading baskets with the transactional ease of a mutual fund.

These baskets are adjusted on a shorter period such as daily or weekly and follow the norms set out by SEBI and exchanges like NSE.

Founded in 2020, by Salil Mathur and C. Ram, who have had distinguished careers in broking, banking, and quant trading with experiences in Angel Broking, Kotak Bank, Citi, and Motilal Oswal. Yobee is a Huddle Accelerated venture advised by Tejinderpal Miglani, Founding CTO of Indiabulls Group. 

- Advertisement -

Speaking on the funding, Salil Mathur, Founder, Yobee, stated: “We are creating a new asset that combines the best of systematic investing & short term trading. Indian Markets are witnessing a surge in activity and this asset comes with safety measures baked in to promote discipline while being extremely simple to use by both new and existing investors. It can accommodate a variety of trading styles and crucially, respect the norms thoughtfully set by regulators”. 

“Yobee’s solution is catering to the continuously growing trading population in India. With the rise of traders, and the volume increase in this market, Salil and Chella have created a product which boasts accuracy, efficiency and caters to a large ask of the market, backed by a host of partnerships with prominent institutions in this sector,” Sanil Sachar, Founding Partner, Huddle, added.

- Advertisement -

In today’s market, the experience of a long-term investor is significantly superior to that of a short-term trader. The existing solutions for these traders are too complex & expensive pushing them out of the reach of common traders. A vast majority of them break the norms laid out by SEBI making them unsafe.      

Commenting on the fundraise, Tejinderpal, Founding CTO, Indiabulls Group, said, “With ever greater participation in the capital markets, there is a need for sophisticated products for both the retail investor and trader. Yobee, through its unique trading baskets, has the potential to fill a gap for the discerning retail and HNI traders who now see systematic trading as an uncorrelated asset class” 

THE SNAPSHOTS, IN YOUR INBOX

Get quick snaps of everyday happening, directly in your inbox.

We don’t spam! Read our privacy policy for more info.

- Advertisement -
Krishna Mali
Krishna Mali
Founder, CEO & Group Editor of TechGraph.
spot_img

More Latest Stories

Related Stories