Finvasia is an Indian fintech company headquartered in Mohali, Punjab.[1] The organization has expanded its hands into healthcare services by acquiring Ginihealth and into retail FX space by acquiring major investment platform ZuluTrade.[2][3]
History
editFormer Wall Street banker Tajinder Pal Singh and his brother Sarvjeet Singh started Finvasia in Canada in 2009.[4][5][6][7] After registering with the Securities and Exchange Board of India (SEBI) as Foreign Institutional Investor (FII, now FPI), they ventured into India.[8] In 2013, the company entered the retail brokerage market after receiving regulatory approvals from NSE and MCX.[9]
In 2016, Finvasia received foreign direct investment (FDI) funding against a valuation of ₹150 crore from Mauritius-based Intrinsic Investment Limited.[10]
In 2017, the company received the license to operate as a non-banking financial corporation (NBFC) from RBI.[11]
In 2023, Finvasia got the Investment Banking License from the Financial Services Commission of Mauritius (FSC).[12]
References
edit- ^ Agarwal, Nikhil (2023-04-13). "Zero-broking platform Finvasia hit by tech glitch, traders suffer losses". The Economic Times. ISSN 0013-0389. Retrieved 2024-07-10.
- ^ "Finvasia CEO Tajinder Virk Becomes ZuluTrade's Interim Chief". Financial and Business News | Finance Magnates. 2022-04-18. Retrieved 2024-07-10.
- ^ "Finvasia Acquires Major Social Trading Platform, ZuluTrade - FinanceFeeds". 2021-12-14. Retrieved 2024-07-10.
- ^ Bogdanova, Steffy (2022-04-19). "Finvasia co-founder Tajinder Virk named Interim CEO of ZuluTrade". LeapRate. Retrieved 2024-07-10.
- ^ "What are the building blocks of personal financial audit?". Zee Business. 2024-07-09. Retrieved 2024-07-10.
- ^ Adoni, Adonis (November 24, 2023). "Tajinder Virk reveals Finvasia Group's ambitious plans for Cyprus".
- ^ "Finvasia's Shoonya Platform: Revolutionizing Trading with AI, Zero Fees, and Mutual Fund Accessibility". Times Now. 2023-10-18. Retrieved 2024-07-10.
- ^ "Finvasia expects to open 10 million accounts by 2020: MD and co-founder Sarvjeet Singh Virk". Free Press Journal. Retrieved 2024-07-10.
- ^ "Finvasia approved to transfer commodity membership in capital market".
- ^ Roy, Vijay. "Finvasia gets FDI from Mauritius-based entity". The Tribune India.
- ^ Roy, Vijay. "Finvasia gets licence to operate as NBFC". The Tribune India.
- ^ "Breaking News: Finvasia Group Secures Investment Banking Licence | Forexlive". Forexlive | Forex News, Technical Analysis & Trading Tools. Retrieved 2024-07-10.