ET Money Investment and Financial Services

ET Money offers a wide range of investment and financial services to its users. These services are designed to be user-friendly and accessible to everyone.

ET Money allows users to invest in mutual funds with a minimum investment of Rs. 100, making it a great option for those who are new to investing.

The app offers a feature called "auto-invest" which allows users to invest a fixed amount of money at regular intervals, helping them to invest systematically and consistently.

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ET Money was founded in 2015 by Mukesh Kalra, who earlier founded the fintech company Moneysights in 2009.

Moneysights was backed by ex-HP and IBM executive Prasad Duvvuri, Blume Ventures and Naveen Tewari of InMobi.

The app was launched as Smartspends and later rebranded to ET Money in October 2016.

ET Money secured 2.5 million app downloads in 2017, and processed over 2 crore investment orders.

It registered a ₹500 crore sales in the mutual fund within two years of its launch, and had more than 4 million users on its app as reported in 2018.

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It currently has more than 5 million app downloads on the Google Play store as of April 2022.

Initially, it was conceived as a platform to help users maintain their daily and monthly spending.

Later it added mutual funds and insurance products to its features.

It tied up with various financial services companies and banks, including Reliance Mutual Fund, Bajaj Finance, HDFC Life and RBL Bank to offer multiple products and services.

In April 2021, it launched an Aadhaar-based SIP payments feature.

In October 2021, the company crossed the sale of ₹500 crore of mutual funds in a month.

In March 2022, it registered a $3 billion (₹22,500 crores) of total mutual fund investments being managed on the platform.

The investments completed through the app have increased from ₹832 crore in March 2019 to over ₹7,500 crore in October 2021, a 901% growth.

The company launched ET Money Genius, a premium membership service to offer personalised investing knowledge to its users, in January 2022.

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ET Money offers a range of features that make investing and managing your finances a breeze.

You can purchase and sell direct mutual funds at zero commission charge, which is a huge plus for anyone looking to invest in the stock market.

The app allows you to buy various financial products and services such as mutual funds, insurance, fixed deposits, instant loans, NPS, and SIPs, all in one place.

With the SmartDeposit feature, you can earn a higher interest rate on your saving account balance, powered by Reliance Mutual Fund.

The app creates a category-wise record of your spending by connecting to your SMS records and fetching data on electronic transactions.

It also creates your financial and risk profile based on the data obtained from the transaction records captured in text message alerts.

You can buy life and term insurance plans, motor vehicle insurance, health insurance, gold, and mutual funds through the app.

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And, you can even check your credit scores for free on the platform.

The app's simplicity is one of its standout features, with a registration process that's as easy as entering your email and setting a password.

You can also sign up with Google, which provides a one-tap solution for creating your account.

The app gives you three simple options to start your investment journey, with all the necessary information at your fingertips.

You can claim your free credit score in the app, and even apply for credit cards and personal loans with a completely paperless process.

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ET Money has not raised any funding rounds yet. This means that the company is still in its early stages of growth and development.

As of now, ET Money does not have any notable investors listed.

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ET Money is a comprehensive financial management app that streamlines investment and expense tracking processes. It offers a seamless platform for investing in mutual funds from various asset management companies (AMCs).

The app provides detailed insights into fund performance, including past returns, expense ratios, and other essential metrics. This helps users make informed investment decisions.

ET Money consolidates investments from multiple AMCs into a single dashboard, making it easier to track and manage portfolios. This feature is especially useful for users with multiple investments.

The app supports quick and hassle-free KYC verification, typically completed within a few working days. This saves users time and effort.

ET Money offers tools for setting up Systematic Investment Plans (SIPs), which can be tailored to meet specific financial goals. Users can set up SIPs for retirement or education planning, among other goals.

The app integrates personal finance management tools, enabling users to track their expenses and receive recommendations for optimizing their financial strategies. This holistic approach makes it an ideal choice for those seeking to manage both investments and everyday expenses in one place.

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ETMONEY offers a wide range of investment options, including Fixed Deposits, Mutual Funds, and NPS. With these options, you can not only invest but also save taxes with long-term mutual funds.

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You can invest in Gold Funds with top names like Kotak, Axis, SBI, Nippon, Aditya Birla, and more, all at zero commission. The app also allows you to start a SIP in weekly, monthly, or annual formats, and view the performance and consistency of all the Gold Funds.

ETMONEY has made investing in Mutual Funds easier with its Smart Solutions, which are baskets of 4 funds engineered to help you achieve your investment goals. You can also use the Smart Assist option, which asks you two simple questions to recommend Mutual Funds that match your priorities.

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You can start investing in mutual funds with as little as ₹500 per month, making it an accessible option for everyone.

ETMONEY offers a feature called Smart Solutions, which is a basket of 4 funds that they have put together to make investing easier.

There are over 2000 mutual funds to choose from, but ETMONEY's Smart Assist option helps narrow down the options by asking you two simple questions.

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You can choose from options like Saving Tax, Starting a SIP, One Time Investment, or Long Time, and then select a period of short term, mid-term, or long-term.

The app will then recommend mutual funds that match your priorities based on your selection.

ETMONEY also offers free portfolio tracking, allowing you to import your existing portfolio and track it at zero cost.

By switching to direct plans, you can earn up to 1% extra returns on your existing investments, which can make a significant difference in your returns.

ETMONEY uses a momentum-based strategy to recommend stocks, providing two buy recommendations each week on the first business day.

You can also invest in stocks through the ETMONEY app, which provides a seamless and paperless experience.

With ETMONEY, you can choose between SIPs or lump sum investments, and even invest in top-rated MF schemes tailored to your financial goals and risk tolerance.

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You can invest in Gold Funds with top names like Kotak, Axis, SBI, Nippon, Aditya Birla, and many more, at zero commission.

These funds can be started in weekly, monthly, or annual formats through a SIP, which is a convenient way to invest regularly.

The app allows you to directly look at the performance and consistency of all the Gold Funds, making it easier to choose the right one for you.

The returns rate of each fund is also displayed, giving you a clear idea of its performance.

The app even gives a rating for every investment based on its performance, so you can make an informed decision.

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ET Money simplifies the process of getting insurance policies by asking just three basic questions: your age, the period you want to cover, and your payment tenure.

The app then shortlists the best 4 insurance policies for you based on your input, providing a quote and a head-to-head comparison of the options.

With ET Money, you can apply for a credit card and even get your credit score checked for free, a feature that's usually charged by others.

Insurance can be overwhelming with too many options to choose from. ETMONEY is here to simplify the process by shortlisting the best 4 insurance policies for you based on your needs and research.

The app asks you three basic questions like your age, the period you want to cover, and your payment tenure to give you a quote of the best policies. This makes it easy to compare policies head-to-head.

The process of getting insurance policies is completely paperless, and you can manage everything in the app itself. This is a huge convenience.

You can get quotes for Health, Vehicle, or Term insurance with ETMONEY's help. The app will show you the best options based on your input.

Managing your insurance policies is as simple as using the app.

You can get your credit score checked for free in ETMONEY, a service that saves you money compared to other providers that charge a fee.

ETMONEY's free credit score check is a convenient feature that can help you understand your creditworthiness.

Based on your credit score, you can directly apply for a credit card in the ETMONEY app, making the process paperless and free of charges.

This means you can enjoy the benefits of credit card rewards and have the flexibility to pay in credits upfront.

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ET Money's expense tracking feature is where the app truly shines. It lets you sync your SMS, showing all your transactions in a neat and organized table.

The app's material UI design makes it very easy to navigate between all menus. You can also set recurring payment entries, which can be your EMI, DTH bill, recharge, groceries, etc.

This feature allows you to have a very close look at your spending habits, and decide where to cut down your expenses, and focus more on investing and saving.

Money Reports can be a game-changer for your financial health.

Keeping track of your income and expenses is crucial, and a budget can help you do just that. According to our previous discussion, a budget can be as simple as a list of income and expenses, or as complex as a detailed spreadsheet.

The 50/30/20 rule is a great starting point for allocating your income. This means 50% of your income goes towards necessary expenses like rent and utilities, 30% towards discretionary spending, and 20% towards saving and debt repayment.

Regularly reviewing your expenses can help you identify areas where you can cut back and save money. For example, cutting back on dining out can save you up to $500 per month, as mentioned in our previous discussion.

Creating a budget and tracking your expenses can also help you avoid debt. By prioritizing your expenses and making smart financial decisions, you can stay on top of your debt and work towards becoming debt-free.

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ET Money is a comprehensive financial management app that streamlines your investment and expense tracking processes. It offers a seamless platform for investing in mutual funds from various asset management companies (AMCs), allowing users to manage their portfolios efficiently.

The app provides detailed insights into fund performance, including past returns, expense ratios, and other essential metrics, helping users make informed investment decisions.

ET Money consolidates investments from multiple AMCs into a single dashboard, making it easier to track and manage portfolios. This feature is especially useful for users with multiple investments across different companies.

The app supports quick and hassle-free KYC verification, typically completed within a few working days. This makes it easy to get started with investing.

ET Money also offers tools for setting up Systematic Investment Plans (SIPs), which can be tailored to meet specific financial goals such as retirement or education planning.

The app integrates personal finance management tools, enabling users to track their expenses and receive recommendations for optimizing their financial strategies.

ET Money offers a free-to-use service where you find the best shortlisted Mutual Funds Options, and Gold Investments, and even FDs, completely based on your choice.

The app allows users to apply for loans and credit cards in a paperless manner without actually having to visit any branch. This feature is convenient and saves time.

ET Money also provides a free credit score, which can be a valuable tool for users to monitor their credit health.

ET Money has several competitors and alternatives in the market. Scripbox, a Bengaluru-based company, is currently ranked 1st, providing a mutual fund investment platform with personalized recommendations.

Scripbox has raised a total of $80.5M in funding, backed by investors such as Accel and Innoven Capital. In contrast, ET Money has been acquired and its current funding status is not publicly disclosed.

Truist, a US-based company, takes the 2nd spot, offering wealth advisory services with a relatively low funding of $900K. Dezerv, an Indian company, ranks 3rd, providing data-driven investment solutions for affluent clients and having raised $60M in funding.

Moneyfarm, a UK-based company, is ranked 4th, providing a platform for investment planning and advisory services, with a significant funding of $186M. Fisdom, an Indian company, is ranked 5th, offering online investment and wealth management services, with a funding of $48.6M.

Here's a list of the top 5 competitors and alternatives to ET Money:

These companies are all vying for a share of the market, and ET Money must stay competitive to remain a leader in the industry.

ET Money's founders and directors are responsible for shaping the company's vision and direction.

Mukesh P Kalra is the Founder & CEO of ET Money and the founder of another company. He can be contacted via one email address.