Havenspire is a Bengaluru-based bootstrapped firm that helps young people develop a better understanding of stock trading and markets.
Akash Jayan and Ritvik Vipin, like any other student, were looking for methods to supplement their income while studying at Vellore Institute of Technology (VIT) in 2015. It was then that they discovered stock trading as a means of bringing in income by chance.
In any event, the crew checked over a number of YouTube systems and discovered that none of them functioned. Furthermore, they lacked market experience due to a lack of meaningful mentorship.
“We discovered it via preliminary and trial procedures. We began with a contribution of Rs 3,000, but it was reduced to Rs 700. We were generating Rs 1,000 per day while we were in our fourth year, 2017-18. Then a huge set of our comrades came up to us, and we began training them. We pondered creating a website to display stock trading and started talking about it on Facebook groups. Two people approached us right away to study stock trading and paid us Rs 2,000 as a fee. That was our second aha moment “said Akash.
This prompted the couple to launch Havenspire in Bengaluru in 2019. “We teach laypeople to become expert stock dealers in just nine weeks at Havenspire. The most fundamental issue with the Indian educational architecture is that it does not encourage monetary education. At Havenspire, we help people become financially savvy and manage their money effectively “Akash explains.
The test was to manage income to contribute as understudies, as well as persuade their parents to enable them to pursue their interests and miss ground arrangements. Despite the fact that Akash was placed, he opted to halt and continue his journey in Havenspire.
Being the light in the dark
“During COVID-19, we assisted several youngsters, understudies, working professionals, housewives, and unexpectedly more established adults in becoming master stock brokers in achieving their financial independence. Exchanging as an issue is still seen as untouchable in India, where many people believe that all free funds should be put the resources into stock exchanging. We took on a massive task to instil mindfulness and change people’s mindsets through masterclasses that discussed market analogies in layman’s words “Akash explains.
The club now has 30 members and hopes to grow further. When a student enrols in their masterclass programme, they are subjected to detailed, educational plan-based preparation. On weekends and during the evenings, the group trains brokers on WhatsApp for an extended period of time. They are encouraged to put the approaches they learned during the end-of-week seminars to use while exchanging often. They also benefit from many features and equipment such as Havenspire Live for live trading with teachers, Havenspire Academy of Trade, breakdowns recordings, and Live Trading Voice Channels.
“They receive lifelong membership in our local region of brokers on the friction server, which is appealing to Havenspire. The trainees have the opportunity to work with master dealers, to whom they may seek assistance when swapping. This plethora of highlights helps those who are fasting follow in their journey to becoming profitable traders “Akash explains.
Havenspire, according to Akash, began with a Rs 10,000 bet, and the firm is being bootstrapped. The organisation expanded by employing its own assets and reached the first Rs 1 crore earning milestone in the first four months of operation.
“We have reached the $0.6 million mark in a rather short period of time. Havenspire’s top-line revenue has now reached Rs 4.5 crore, representing a 250 percent increase in revenue in a year. We are having conversations with people who are growing at a rapid pace “Akash explains.
Enrolment in the masterclass programme generates cash for the group. These enrolments are typically obtained through casual interaction and Instagram. To connect with the desired interest group, the group uses web-based media. The great centre is the understudy neighbourhood. The organisation costs Rs 30,000 for each student, which allows them access to a few aspects, as well as instructional courses and access to our local region of stock brokers.
According to Akash, the start up’s current functioning total income is roughly 40%.
While the organisation would not reveal the plan of action, they did say it deals with putting together a local area put together learning experience and centres for beneficial learning.
“We are now aiming to expand deeper into the edtech business while remaining competitive with other leading edtech firms. Furthermore, we are aiming to broaden our consumer base and assist every Indian in being financially informed. At the same time, we aim to venture into the realm of fintech “Akash explains.