Winvesta, co-founded by Swastik Nigam and Prateek Jain, allows Indians to invest in overseas stocks and buy fractional shares of highly-valued firms like Facebook, Google, Amazon and others on the S&P 500 index.
The entire registration and #KYC process on Winvesta is paperless, and can be completed on the app. The startup is authorised and regulated by the UK’s Financial Conduct Authority (FCA). Its local office is situated in Mumbai, but Winvesta runs a team spread across four countries.
Users can create a US stock brokerage account or an international multi-currency bank account within 15 minutes. It has no significant upfront costs, annual tie-ins, or minimum thresholds. It also promises zero-commission trading. It not only allows fractional trading, but also lets Indians buy international real estate, and pay for foreign education through borderless bank accounts.
Winvesta is creating market differentiation by blending commission-free stock-trading with multi-currency banking on a clean and user-friendly interface. Under the liberalised remittance scheme, Indians can invest upto $250,000 per year overseas under Liberalised Remittance Scheme (LRS).
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This wealth-tech startup helps Indians invest in Google, Amazon, Facebook, and other US stocks
Winvesta had a start like no other. Incorporated in London in August 2019, the cross- border investment platform went live in India in March 2020, two days after the nationwide lockdown. "It was as good a time as any," Founder and CEO Swastik Nigam tells YourStory.
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