Angel investors 2021-10-13

Yobee Raises Seed Round From Angel Investors

The round of funding will be used to strengthen their technology stack and create distribution channels

By Content Writer
Yobee Raises Seed Round From Angel Investors

Mumbai-based Yobee, which designs proprietary algorithms to uncover new and unique patterns in the stock market recently announced to have raised oversubscribed first round of ­­­funding and, will soon launch, mutual funds for traders. The fintech venture backed by Dheeraj Jain of Redcliffe LifeTech; Ruchirans Jaipuria of Jaipuria Group; Shashidhar Jayaraman of Ask Pravi; Chetan Mathur.

Yobee will be utilizing the funds to further build out its technology stack and create multiple distribution channels by partnering with market intermediaries like brokers and platforms.

“We are creating a new asset that combines the best of systematic investing and short-term trading. Indian Markets are witnessing a surge in activity and this asset comes with safety measures baked in to promote discipline while being extremely simple to use by both new and existing investors. It can accommodate a variety of trading styles and crucially, respect the norms thoughtfully set by regulators," said Salil Mathur, founder, Yobee.

Yobee is attempting to simplify systematic trading by offering professionally created trading baskets with the transactional ease of a mutual fund. These baskets are adjusted on a shorter period such as daily or weekly and follow the norms set out by SEBI and exchanges like NSE.

 “Yobee's solution is catering to the continuously growing trading population in India. With the rise of traders, and the volume increase in this market, Salil and Chella have created a product which boasts accuracy, efficiency and caters to a large ask of the market, backed by a host of partnerships with prominent institutions in this sector,” shared Sanil Sachar, founding partner, Huddle.

The company was founded in 2020, by Salil Mathur and C. Ram. Yobee is a Huddle Accelerated venture, also advised by Tejinderpal Miglani of Indiabulls Group.

 “With ever greater participation in the capital markets, there is a need for sophisticated products for both the retail investor and trader. Yobee, through its unique trading baskets, has the potential to fill a gap for the discerning retail and HNI traders who now see systematic trading as an uncorrelated asset class,” added Tejinderpal, founding chief technology officer, Indiabulls Group.

Post an oversubscribed first round of ­­­funding, Yobee will simplify the life of traders by offering features like single-click execution of baskets, live monitoring with the ability to easily exit at any time.

 

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