Spenny

YC W20 · Active · Acorns for India. Every time you swipe you make a digital…

Competitors

Companies closest to Spenny
Company	Category	Status	Program
BensonShared: investing, user, consumer financeActiveOther	Other	Active	YCW22
RedCarpetUpShared: bank account, india, capitalActiveOther	Other	Active	YCS15
SoonShared: investing, spend, bankActiveOther	Other	Active	YCW22
PiggyShared: investing, india, becauseInactiveOther	Other	Inactive	YCS17

Adjacent

Companies next to Spenny
Company	Category	Status	Program
SelfinShared: investing, market, consumer financeActiveOther	Other	Active	YCF25
SpotPayShared: bank account, card, userActiveOther	Other	Active	YCW26
AstorShared: investing, don, investmentActiveAI	AI	Active	YCS25
LucibleShared: investing, capital, spendActiveOther	Other	Active	YCS24
SwadeshShared: bank account, indian, 000+ActiveOther	Other	Active	YCS19

Also from W20

All of W20

Company	Category	Status
EasyplanAn AI-driven investment app for beginner investors in IndiaInactiveAI	AI	Inactive
delt.aiDigital banking for businesses in Latam.AcquiredAI	AI	Acquired
GuruHotelAI-native direct booking infrastructure for global hospitalityActiveAI	AI	Active
HandlHandl converts documents (invoices, income stabs, custom forms, etc.)…ActiveAI	AI	Active
Medicare Vox (fka Fair Square)Building an AI Health Insurance Agent.ActiveAI	AI	Active
ModernbancAccounting software that works for youActiveAI	AI	Active

About Spenny

Spenny is the Acorns for India. Every time a user make any digital transaction, we round off the amount to the nearest 10 INR and invest it for them into a diversified portfolio, automatically. 400M millennials in India don't invest because they don't have enough time, knowledge or access to large capital. With Spenny, they just connect the card and invest every time they spend. We're growing 67% WoW since launch, with 3,000+ users and $15,000 in AUM. Indians put $500Bn into their bank accounts annually. We charge 1.75% of the AUM for investments. That's a direct ~$9Bn market in India alone. Potentially every time a user makes a transaction, we make money. And in that sense, the timing for Spenny couldn't have been better: 1 Trillion+ transactions are expected in 2021 because of factors like Whatsapp launching its P2P payments in India for its 400M users. And the emergence of UPI means every Indian has a virtual bank account now. More interesting revenue models develop from the transaction data insights of our users. We analyse the rich data to A) up-sell more financial products like insurance etc., and B) create brand loyalty programs & partnerships. We acquire customers at minimal CAC by bank partnerships. We leverage the banks' existing users, by integrating with their mobile app. In turn, we invest into their mutual funds. Our long-term vision is to become a one-stop asset management solution for millennials.

YC batch: W20 · Winter 2020
Status, per YC: Active
Category: Other
Team size: 2
Location: Bengaluru, KA, India
Checked: 32m ago

YC tags: Fintech, India, Investing

Spenny in W20: 228 companies, 29% AI

Spenny: questions

Which YC batch was Spenny in?

Spenny was in Y Combinator's Winter 2020 batch (W20).

Is Spenny still active?

Y Combinator lists Spenny as active.

Where is Spenny based?

Spenny lists Bengaluru, KA, India as its location on YC's directory.

Sources: each program's public company list, read twice a week. Not affiliated with Y Combinator or any other program. Logos via logo.dev; trademarks belong to their owners.