Kotak Securities invest in fintech FlipItNews
To give apt information regarding markets, investments to millennials and first time investors, Kotak Securities Limited (KSL) has announced that it has invested in fintech start-up Entroq Technologies for approximately Rs3 crore for a minority stake as part of its startup engagement and investments initiative.
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Hyderabad: To give apt information regarding markets, investments to millennials and first time investors, Kotak Securities Limited (KSL) has announced that it has invested in fintech start-up Entroq Technologies for approximately Rs3 crore for a minority stake as part of its startup engagement and investments initiative.
The fintech has begun operating FlipItNews, which simplifies financial literacy and financial news in less than 50 words to the readers. The company plans to use the fresh funds as part of growth capital to drive marketing efforts, scale up the social community business, and enhance technology offerings.
Jaideep Hansraj, MD & CEO, Kotak Securities, said: "Simplification of stock markets is increasingly becoming paramount for retail investors and especially millennials and first-time investors. FlipItNews aims to carve a niche in the market by providing curated financial news, stock analytics, and social engagement all in one single app. We are excited with the company's vision and look forward to this partnership." Dipankar Biswas, co-founder & CEO, FlipItNews, said: "We're super excited to onboard Kotak Securities as one of our investors. We are on a mission to democratize business, finance, and investment for all."
