Before the pandemic, one could afford to outsource their financial planning without a shred of worry. But circumstances have changed since then, and COVID-19 has taught us the importance of self-awareness.
this is whereenters to scene. It is a portal that promises to be a “complete financial wellness ecosystem” that strives to address all financial needs. snehal fulzele Y send marathe launched the Thane-based startup in 2020 as B2B financial wellness platformand in 2021, they transitioned to a D2C financial services business to address an obvious market gap.
“Koppr was established with the vision of making knowledge of managing personal finances easy and accessible to everyone. We help people improve their financial health and secure their financial future through access to low-cost, AI-powered, unbiased, and personalized personal financial advice and tools. Essentially, Koppr helps you make smart money moves, every time!” explains Mandar, in a talk with YS weekend.
Both Mandar and Snehal earned their computer engineering degrees from Veermata Jijabai Institute of Technology in Mumbai. Mandar began his career journey as a software engineer with Infosys in 2004. He later completed his MBA and changed careers to enter the field of digital marketing with Digitas in Boston. Mandar returned to India in 2010 to head customer service for Reprise Media in Mumbai. In 2014, he co-founded Briefkase, a digital marketing agency for startups and SMEs. For five years, this popular agency had more than 100 clients.
Snehal earned a Master of Computer Science from Carnegie Mellon University before starting his company Cloud Lending Inc, a SaaS platform for lend-lease businesses, in 2013. He sold it to Q2 Software Inc for more than $130 million in 2018.
Stating that it offers a complete financial wellness ecosystem, Koppr encourages its customers to embrace the Learn-Plan-Act-Follow Method for your finances. They do this by creating real-time financial profiles that have a ‘Koppr Score’, a range that tracks a user’s income, expenses, wealth and investments, taking into account their financial goals and risk profile. This allows Koppr to be seen as a one-stop platform for managing all financial needs.
“Koppr helps people address questions like why and when do you need a financial planner. We teach financial basics through engaging media like movies, videos, blogs, and podcasts,” shares Mandar.
He came up with the name Koppr (pronounced Copper) as a variant on copper coins, known to be one of the earliest forms of currency. It fit the need for a name that would resonate with the younger generation while being related to the field of finance.
The Koppr team of 20 employees works in departments such as engineering, product, and marketing. All content produced for users is created in-house to provide a personalized experience.
what’s on offer
“Koppr is an expert-led, community-driven all-in-one platform that offers personalized financial advice to millennials and young adults in India at every step of their financial journey,” explains Mandar.
The platform offers many services that can be tailored to the needs of your audience. Their Q&A tribes or communities are personalized financial groups led by financial experts where users can ask their most pressing financial questions and get answers from those in the know.
They also host various financial courses aimed at clearing concepts. These are in the form of individual sessions as well as lectures and presentations.
Users can consume personalized financial content from more than 150 channels and a variety of themes. Content spans curated news articles, videos, blogs, and podcasts.
Investments can also be made and your ongoing investments protected as Koppr offers access to a fully automated trading platform for real investors.
Aside from the above, the platform also offers cryptocurrency loans and schemes to allow users to earn interest and trade on the market, as well as purchase health insurance.
The app is available on the Google Play Store. The co-founders say that the majority of users are in the age category of 21-28 – those who are just starting to take care of their own finances.
growth in numbers
According to a report on the financial analytics market published by MarketsandMarkets, the size of the global financial analytics market is expected to grow from $6.9 billion in 2018 to $11.4 billion in 2023, with a CAGR of 10.7% between 2019 and 2023.
Koppr started with a $250,000 seed funding of the founder Snehal and some private investors.
Speaking of its growth, Mandar says, “To date, we have acquired close to 25,000 members and over 500 people who have paid for our courses and attended one-on-one sessions with experts, as well as our Expert Charcha sessions or webinars. .”
The Koppr team believes it sets itself apart from the competition as its content is curated by financial experts including Registered Investment Advisors, Certified Public Accountants and Certified Financial Planners. They are particularly popular for their personalized services aimed at a younger target audience when it comes to dealing with difficulties during their financial journey.
His biggest challenge has been putting together a team in the difficult times of COVID-19. All of his hires were done remotely and since then they have failed to get the team together.
Another challenge has been finding a niche for your product. They are constantly experimenting and have been through multiple pivots. Having finally understood their target audience, they are now building their main offering in the realm of cryptocurrencies, for which a new launch is expected in three months. They are also looking to create and launch millennial friendly investment solutions in India as their current focus is entirely on the Indian market.
Mandar concludes by sharing, “Koppr hopes to create a one-stop solution where young adults in India look to us as a go-to platform for all their financial issues and concerns. Managing your finances can be hard, but trying to do it without having the right mindset is even harder. Koppr empowers you to make smart personal finance decisions through the right knowledge and tools.”