An online options Tech trading startup Sensibull has now secured ₹2.5 crores in seed funding from Bengaluru-based online stock trading startup Zerodha. The early-stage startup is being incubated under Rainmatter, a fintech fund and incubator, an initiative by Zerodha.
Freshly infused funds will be used to hire engineering talent, as the startup looks to strengthen its technology platform.
Sensibull was founded by Abid Hassan, along with Abhimanyu, Balajee, and Sudeep in August 2017. The startup aims to assist small investors to earn profits in the risky options trading market. Its founder is an alum of NIT Calicut and IIM-Ahmedabad, and he is also a member of SEBI‘s AIPAC committee on hedge funds.
Abid Hassan, Founder of Sensibull, said, “I believe the major chunk of losses occur in the space because corporates mostly sell options while retail investors buy them. If people start selling options instead of buying them there will be a remarkable turnaround in their profit and loss statements.”
The startup claims to have around 20,000 logins per day from its member base of 3,000 people, supported by a six-member team, mostly comprised of engineers.
Zerodha was founded by Nithin and Nikhil Kamath in May 2010. This online trading startup claims to have more than one million clients placing millions of orders every day through its platform.
Zerodha also started Rainmatter, a fintech fund and incubator focused on supporting fintech startups to strengthen the Indian capital markets. Some of the startups supported by Rainmatter include discount brokerage firm Streak, fintech startup Balance, e-signing platform Digio, among others.
Sensibull was founded with the vision of making the small trader profitable in markets. In an official statement, the startup said that an astonishing number of the people make losses in the market and Sensibull wanted to put an end to that. The early stage startup aims to simplify option trading for all by cutting through all the math and technicals and creating an alternative avenue for wealth management for the high-income crowd.