About MoMoney

MoMoney is a financial platform that offers automated investment in gold, fixed deposits, and mutual funds, allowing users to configure investment ratios and auto-invest their remaining monthly balances. The platform provides instant credit against investments, enabling users to manage their finances effectively while aiming for higher returns than traditional savings accounts.

```xml <problem> Many individuals find it challenging to manage their finances effectively and lack the expertise or time to make informed investment decisions, often settling for lower returns from traditional savings accounts. They also face difficulties in accessing credit when needed without disrupting their investment portfolios. </problem> <solution> MoMoney is a financial platform designed to simplify saving and investment, offering users automated investment options in digital gold, fixed deposits (FDs), and mutual funds. Users can create personalized investment baskets tailored to their risk level and financial goals, and set up automated investments from their remaining monthly balances. The platform also provides instant credit against these investments, allowing users to access funds without liquidating their assets, while still earning returns. </solution> <features> - Automated investment baskets personalized for individual risk profiles and financial goals. - Access to a range of investment options including mutual funds, digital gold, and high-yield FDs with returns up to 9.1% p.a. - Option to save money in FD-powered Jars with higher returns than traditional bank accounts and instant withdrawals. - SIP (Systematic Investment Plan) functionality for automated investments via UPI, Net banking, or Debit Card, with options for daily, weekly, or monthly contributions. - Credit line against investments, providing access to funds with interest rates as low as 1% per month on the utilized amount and 10% cashback on monthly bill payments. - Ability to import and track existing mutual fund investments within the MoMoney platform. - Digital gold investments in 24K 99.99% pure gold, starting from ₹100. </features> <target_audience> MoMoney targets individuals seeking a simplified and automated approach to saving and investment, particularly those who are new to investing or prefer a hands-off approach to portfolio management. </target_audience> <revenue_model> MoMoney generates revenue through interest earned on credit provided against investments, commissions from mutual fund investments, and potential partnerships with financial institutions for FD offerings. </revenue_model> ```

What does MoMoney do?

Where is MoMoney located?

MoMoney is based in Bengaluru, India.

When was MoMoney founded?

MoMoney was founded in 2022.

Location

Bengaluru, India

Founded

2022

Employees

11 employees

Major Investors

Lead Angels Network

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MoMoney

Score: 100/100

AI-Generated Company Overview (experimental) – could contain errors

Executive Summary

momoney.in 1K+

Crunchbase

Founded 2022 – Bengaluru, India

Funding

Major Investors

Lead Angels Network

Team (10+)

No team information available. Click "Fetch founders" to run a focused founder search.

Company Description

Problem

Many individuals find it challenging to manage their finances effectively and lack the expertise or time to make informed investment decisions, often settling for lower returns from traditional savings accounts. They also face difficulties in accessing credit when needed without disrupting their investment portfolios.

Solution

MoMoney is a financial platform designed to simplify saving and investment, offering users automated investment options in digital gold, fixed deposits (FDs), and mutual funds. Users can create personalized investment baskets tailored to their risk level and financial goals, and set up automated investments from their remaining monthly balances. The platform also provides instant credit against these investments, allowing users to access funds without liquidating their assets, while still earning returns.

Features

Automated investment baskets personalized for individual risk profiles and financial goals.

Access to a range of investment options including mutual funds, digital gold, and high-yield FDs with returns up to 9.1% p.a.

Option to save money in FD-powered Jars with higher returns than traditional bank accounts and instant withdrawals.

SIP (Systematic Investment Plan) functionality for automated investments via UPI, Net banking, or Debit Card, with options for daily, weekly, or monthly contributions.

Credit line against investments, providing access to funds with interest rates as low as 1% per month on the utilized amount and 10% cashback on monthly bill payments.

Ability to import and track existing mutual fund investments within the MoMoney platform.

Digital gold investments in 24K 99.99% pure gold, starting from ₹100.

Target Audience

MoMoney targets individuals seeking a simplified and automated approach to saving and investment, particularly those who are new to investing or prefer a hands-off approach to portfolio management.

Revenue Model

MoMoney generates revenue through interest earned on credit provided against investments, commissions from mutual fund investments, and potential partnerships with financial institutions for FD offerings.