Wint Wealth, a fintech startup based in Bengaluru has recently acquired a license from SEBI as a bond platform provider (OBPP). This license enables Wint Wealth to facilitate investments, in bonds for investors. The company has already facilitated investments of INR 1,000 Cr for around 50,000 investors. Has future plans to introduce fixed-income products. Additionally, Wint Wealth aims to expand its offerings by obtaining an NBFC license and seizing the growing opportunity in lending technology, within India.
Fintech startup Wint Wealth announced on Wednesday (July 26) that it has obtained the online bond platform provider (OBPP) license from the Securities and Exchange Board of India (SEBI). This license allows the Bengaluru-based startup to continue facilitating investments in corporate bonds for retail investors.
SEBI’s mandate requires online debt investment aggregator platforms to acquire this license. In November of the previous year, SEBI directed online bond platforms selling listed debt securities to obtain a certificate of registration as a stockbroker in the wholesale debt segment under the SEBI (Stockbrokers) Regulations to function as an OBPP.
Wint Wealth has a track record of enabling cumulative investments worth over INR 1,000 Crores in corporate bonds for nearly 50,000 investors.
The startup’s cofounder and CEO, Ajinkya Kulkarni, emphasized the importance of regulating the rapidly growing bond market for retail investors, providing authenticity to online bond platforms committed to investor protection. He also revealed their plan to introduce various fixed-income products to their portfolio, offering more opportunities to retail investors.
The company was founded in 2020 by Kulkarni, along with Abhik Patel, Shashank Chimaladari, and Anshul Gupta. Wint Wealth specializes in SIP-style aggregated debt instruments and has garnered investments from notable firms such as Eight Roads Ventures, 3one4 Capital, Arkam Ventures, Blume Ventures, Zerodha’s Nitin Kamath, and CRED’s Kunal Shah.
The debt market investment in India is relatively low and under-penetrated. Recently, Paytm Money also launched a bonds platform to help retail investors enter the debt market.
Furthermore, Wint Wealth has reportedly applied for a non-banking finance company (NBFC) license to expand its offerings and boost its revenue. Upon receiving this license, the startup may introduce new offerings, such as loans against corporate papers held by customers.
According to experts’ predictions in the State Of Indian Fintech Report Q2 2023, the lending tech opportunity is projected to reach $1.3 Trillion by 2030. Among Indian startup investors, consumer lending remains a highly sought-after segment due to its larger addressable market.
