Finvasia

From Wikipedia, the free encyclopedia
Finvasia India
TypePrivately held company
Founded2009
FounderTajinder Pal Singh
Sarvjeet Singh
Headquarters
Mohali, Punjab
,
India
Websitewww.finvasia.com

Finvasia is an Indian fintech company headquartered in Mohali, Punjab. The organization has expanded its hands into healthcare services by acquiring Ginihealth[1] and into retail FX space by acquiring major investment platform Zulu Trade.[2]

History[]

Ex Wall Street banker Tajinder Pal Singh and brother [3] started Finvasia in Canada in 2009 and ventured into India after registering with Securities and Exchange Board of India (SEBI) as Foreign Institutional Investor (FII, now FPI).[4]

In 2013, the company entered the retail brokerage market after receiving regulatory approvals from NSE and MCX.[5]

In 2015, Finvasia became trading Member of Bombay Stock Exchange Ltd (BSE) and The Association of Mutual Funds in India (AMFI).

In 2016, Finvasia received foreign direct investment (FDI) funding against a valuation of ₹150 crore from Mauritius based Intrinsic Investment Limited.[4][6] In the same year it was named among the 20 Most Promising Banking Solution Companies by Silicon India.[7]

In 2017, the company received the license to operate as a non-banking financial corporation (NBFC) from RBI.[8]

In 2018, the company became member of National Commodity & Derivatives Exchange Limited (NCDEX) & received SEBI registration to allow its clients to trade on NSE, BSE, MCX & NCDEX from a single trading account.

In June 2021, Finvasia group acquired a 100% stake in Fxview  - a financial services company based in Cyprus. [9]

Finvasia acquired fintech company ActTrader Technologies in 2021. ActTrader was formerly known as Act Forex.[10]

Awards[]

2017: Awarded Best Trading Execution or Brokerage Platform' at the 2017 Benzinga Global Fintech Awards in New York, USA.[11]

References[]

  1. ^ "FINVASIA Acquires Gini Health, Expands Into Healthcare Services". www.morningstar.com. 2021-10-28. Retrieved 2021-12-26.
  2. ^ Steves, Rick. "FINVASIA ACQUIRES MAJOR SOCIAL TRADING PLATFORM, ZULUTRADE". Finance feeds.
  3. ^ "Finvasia expects to open 10 million accounts by 2020: MD and co-founder Sarvjeet Singh Virk". Free Press Journal.
  4. ^ a b D'souza, Vanita (2017-09-15). "These Brothers are using AI to Kill the Brokerage Model in Capital Market". Entrepreneur. Retrieved 2020-12-07.
  5. ^ "Finvasia Approved to Transfer Commodity Membership in Capital Market". Punekar News. 2018-10-22. Retrieved 2020-12-07.
  6. ^ "Finvasia gets FDI from Mauritius-based entity". The Tribune (Chandigarh). Retrieved 2020-12-07.
  7. ^ "20 Most Promising Banking Solution Companies in India - 2016". siliconindia. Retrieved 2020-12-07.
  8. ^ "Finvasia gets licence to operate as NBFC". Tribuneindia News Service. Retrieved 2020-12-07.
  9. ^ "Finvasia Group Announces Acquisition of Fxview | Finance Magnates". Finance Magnates | Financial and business news. 2021-06-15. Retrieved 2021-07-14.
  10. ^ "FINVASIA Acquires ActTrader Technologies | Finance Magnates". Finance Magnates | Financial and business news. 2021-07-20. Retrieved 2021-11-17.
  11. ^ "Finvasia bags Benzinga Global Fintech Award". The Tribune. Retrieved 2020-12-07.
Retrieved from ""