Rainmatter invests Rs 2.5 crore in analytics software startup Tradelab

BENGALURU: Financial technology early-stage fund Rainmatter has in Rs 2.5 crore in Tradelab, a stockvested broking and analytics software startup started by two IIT-Kharagpur alumni.

"People want minimum human intervention. We wanted to develop a product that acts as a trading platform and performs analytics, allowing not just brokers but regular people also to trust online brokering," said Biplab Sinha, CEO of Tradelab, which has developed a new trading platform named Pi for discount brokerage firm Zerod ha. Rainmatter is also an incubator, which provides physical work space, mentorship and connect with investors and experts in the financial technology sector to earlystage startups and invests up to $1 million (about Rs 6.3 crore).

The fund, which currently houses seven companies, has also invested Rs 25 lakh each in Opentrade Financial Services and Inherit, two Bengaluru-based financial technology product startups that are still in the beta phase.

"In India, the financial technology sector is largely unexposed and untouched by new technologies, an opportunity that can be tapped," said Nithin Kamath, founder of Zerodha, which also runs Rainmatter. "This space is laced with regulations and a lack of customer awareness, and that's what we hope to shine light on, through helping startups in any way possible."

Experts say that the sector can be quite a battlefield for startups due to regulatory challenges.