How an Idea turned Investica into a Premium Mutual Fund App?

What is the Mutual Fund market like?

Mutual fund industry in India dates back to 1963, when Unit Trust of India was formed at the initiative of the Government of India, and Reserve Bank of India. With the entry of numerous Mutual Fund players, and a number of products across asset classes, the industry has come a long way. As of December, 2018, investors in India had an option to choose from more than two thousand Mutual Fund schemes spread across 44 Mutual Funds.

The Assets Under Management (AUM) as on March 31, 2019 stood at ₹23,79,584 crore. The AUM of the Indian MF Industry has grown from ₹ 4.17 trillion as on 31st March, 2009 to ₹23.80 trillion as on 31st March, 2019, more than 5 ½ fold increase in a span of 10 years- As mentioned by Association of Mutual Fund India, AMFI website.

After a sluggish growth post the financial crisis of 2009, the Mutual Fund industry has been seeing double digit growth since 2012. AUM for Mutual Fund industry in India saw a year-on-year growth of 21.04% in the year ending December, 2015.


History Of Investica?

7 Years from 2010

Choice Wealth Management Pvt Ltd was formed in 2010 to offer various financial services. The entire team worked manually to offer Mutual Fund schemes, the task was tedious as separate Forms and Cheques were required for each fund. The company formed tie-ups with all AMC’s offering Mutual Fund (44 in all) offering more than 2000 + schemes. It took 7 years from 2010 for Choice Wealth Management Pvt Ltd to add 507 clients with AUM of 21 crores.


Empanelment with BSE in 2016

For faster processing and to make it easier for Investors to invest in Mutual Funds, Choice International Ltd empanelled with BSE October 2016 to use their application and make Mutual Funds Turnaround time faster for investors. Using BSE proprietary web based application to open accounts and customers could directly start SIPs – Systematic Investments Plans by themselves. Post BSE Empanelment clients grew to 1400 in span of 7 months and AUM reached to 24 crores. This faster acceptance of BSE Web application led to the idea of creating a Mobile Application.

Choice Techlab Pvt Ltd the Technological Arm of the Choice Group was commissioned for this project. The project went live in April 2017 and uses Cloud Computing technology with data encryption for security and safety.


What was the thought behind Investica?

Investica was conceived as an All-inclusive Mutual Fund Platform. The Mutual Fund industry was booming and Choice International Ltd, the parent company backing the Investica project felt it was a good time to give a technology backed platform for people to easily invest in Mutual Funds.
Investica was commissioned with a specific goal in mind and the History that lead to this is the answer. Working manually enabled us to accurately figure out what the customers are looking for.


Post Deployment Analysis

One App to manage Mutual Fund investments, Portfolios, Customized Baskets (Child Education, Retirement etc) SIP or Lumpsum options One App for All.

Investica was started with the idea of providing simple, hassle-free mutual fund investing for everyone across India. It is one of the fastest growing investment apps building wealth for many and fulfilling dreams of many more. Powered by Choice Group, which also offers Jiffy – a fast stock trading app, with Investica and Jiffy we want everyone to experience The Joy of Earning.

Investica provides Mutual Fund Investing, SIP / Lumpsum investment Plans, Free Consultation, Direct Fund investments within a Beautiful and Easy Interface. View top funds for various Mutual Fund categories, Tax Saving or Wealth Builder Baskets & more for the new age investor.

The application has been well received and has grown to close to 2 lakh downloads inside of 2 years.
Choice wealth Management’s Mutual Fund arm after Investica has about 23000 active investors with a total AUM of more than 100 crores. Investica is available on the Play Store and App Store.


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