India-based online options trade platform sensibull has reportedly raised INR 25m ($354,425) in funding.
The investment was supplied by FinTech fund and incubator Rainmatter, according to various reports in the media.
Sensibull is an online platform to enable easy access to options trading, providing insights to improve decisions and the ability to trade and track option strategies. Other services offered through sensibull include pay-off diagrams, IV percentiles and ranks, theme-based option trading suggestions and real-time alerts.
The company is currently working on a number of solutions for the platform, according to the its website. Some of the new services it is looking to launch include heat maps. Paper trading, custom watchlists, real-time prices and market depth, statistical tools and currency options, among others.
Equity from the round will be put towards building out its engineering team and furthering the development of its technology, the articles state.
Earlier in the week, fellow Indian FinTech company ZestMoney reportedly raised its own round of funding, securing $13.4m. The POS lending solution raised the money to develop its technology and data science offerings.
The WealthTech sector has gained some attention in the Indian FinTech space; however, it has been over shadowed by the country’s colossal payments and remittance sector. According to data by FinTech Global, WealthTech companies raised a total of $202m last year, making it the third biggest sector in the area.
Despite it being the third biggest, it only received around 3 per cent of the total capital invested in India’s FinTech space. This is due to the payments and remittance companies picking up a total of $6.1bn.
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