We believe in investing in experiences and adventures because you only live once, don’t you? Then why is it that statistics show a grimmer and heavily daunting picture about the future where over 87% of the 450 million millennial population of India is predicted to be without any substantial savings by 2040?
For the modern day generation, ‘savings’ is a scary word. And quite strangely this gave Sqrrl an opportunity and has placed us uniquely in today’s environment of pocket technology and social media updates. So we’ve taken on a mission, to change the way in which India saves and invests.
Meet Sqrrl, a tiny app that lives on your mobile phone and automates your investments so you don’t have to worry about putting a note every now and then in your piggy bank.
Founded in May 2016, Sqrrl stared with a vision of helping young Indians solve their money issues. In our early days, open and frank conversations with youngsters helped us figure out what their challenges were in terms . And while everyone wanted to save money, no one knew how to. Here’s what the co-founders have to say:
“In the new world, the winners will not be the ones who make more money, rather ones who manage what they make, better!” -Samant Sikka, Co-Founder
“It pains me to see the extent of a broken relationship that youngsters today have with money. This is why we came up with Sqrrl so that they have a chance to start fresh on a healthy note.” -Dhananjay Singh, Co-Founder
This is how the idea of Sqrrl came in, an idea which built itself upon a zest to combine over 60 years of collective financial mastery of the three co-founders and the modern day technological advancements, bringing about simplicity and convenience in the task of saving. The team has worked hard days and nights to bring about a product that simplifies the entire process of saving, providing streamlined communication and ease of access to your money at all times.
The Product & the Focus
The idea behind Sqrrl is that savings can be fun, and seeing your money grow daily is something that would excite anyone. The basis behind savings being scary is something that Sqrrl aims to focus with three very straightforward centric products.
Demographically India is uniquely positioned, with over 400 million Millennials, India has a massive opportunity if we just look at the following numbers for. Internet users and Smartphone users, which are already second in the world, is set to grow from 300 million to 650 million and 240 million to 520 million by 2020 respectively.
“The Fintech landscape in general and personal finance specifically is evolving at a fast pace in India and expect this space to transform over the next 5 years.Sqrrl aspires to be their personal buddy and address their personal finance problems.” -Sanjeev Sharma, Co-founder
Technology is being used for the greater good today, even in our personal lives. It is our attempt to stay at the forefront of this new wave of technology by combining a great user experience with something substantial– helping millions of young Indians save some money.
To take advantage of this unique position of our country comes Sqrrl, a buddy that lives inside your pocket and has the capability of making savings fun for you. With automated investments in the best funds, and facilities like instant redemption (up to a certain limit), special Tax saving plans, and a specific BYOD-centric feature for getting you closer to your dreams, the young millennial of our country will never be scared of savings.
Trust us, seeing your money grow daily with Sqrrl Away is undoubtedly a rejuvenating feeling!
What sets us apart from the competition is the transparency with which we like to function. The customer gets full disclosure about the functionality and the features of the plans that they are investing in, and several other unbeatable features. Our app is also available across the two most popular mobile platforms, Android and iOS.
Our goal is to instill the lovely habit of money saving in the very core of the people of this country. We’ve just started out, but we have this goal at the center of our mind. Help 3 million young Indians achieve our vision by 2021.
To help them save, invest and prosper!