Winvesta: Cross-border Financial Enabler Incorporated in London in August 2019 by Swastik and Prateek Jain, Winvesta aims to make global banking and investments accessible to every Indian.
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The process of receiving international payments is difficult for Indian enterprises and freelancers that earn foreign currency, according to Swastik Nigam, Founder and CEO of Winvesta. These difficulties include delayed transaction times, expensive expenses, and opaque pricing. Winvesta claims to confront these issues head-on, offering a reliable, quicker, and an affordable solution than conventional banking practices.
The financial services startup is committed to providing Indian individuals, businesses, and freelancers with a dependable platform and financially sensible options for investing and managing international payments, ensuring speed, transparency, and a superior customer experience.
"Our process ensures that payments are swiftly credited to clients' Indian accounts within 24 to 48 hours, accompanied by straightforward, upfront pricing," Swastik says.
"With our platform, transaction costs are substantially lower, with fees USD 3 + 0.99%. This marks a substantial departure from the up to 8% fees, plus fixed charges, common with traditional payment gateways. Such savings are valuable in challenging economic times," he adds.
Incorporated in London in August 2019 by Swastik and Prateek Jain, Winvesta aims to make global banking and investments accessible to every Indian.
Having started its operations in India in March 2020, Winvesta claims to offer two main products: a global investing platform and cross-border payments for financial services.
The startup claims to provide an avenue for Indian investors to make global investments. The platform helps them get unrestricted access to 8,000+ US stocks and ETFs. The customers can invest, save, and spend in more than 37 currencies, such as CAD, USD, GBP, and EUR.
"As we look at increasing our top line or customer base, we are dedicated to providing a great product at great value and ensuring our customers recognize the benefits of the products we deliver to them. At the same time, we are focused on building big. We stay close to the fundraising market, testing how things are, and will be looking at raising funds at the right moment," Swastik shares.
To remain competitive in the fintech market, he highlights, "We forge strategic partnerships, expand our service capabilities, and provide more value to our users. Through these efforts, we aim to retain customers and turn them into advocates for our brand."
Speaking about working in a highly regulated industry, Swastik states, "This environment has sharpened our problem-solving skills and attention to detail. It also allowed us to build strong relationships with regulators, fostering a collaborative atmosphere."
"Despite the complexities, it has pushed us to innovate, uphold high ethical standards, and prioritise client security and satisfaction, strengthening our market position and commitment to excellence," he continues.
Facts:
- Amount of funding received - USD 3.5 million
- Year of inception - 2019
- Number of employees - 24
