Be it loan disbursal, wealth creation, SMEs financing, peer to peer lending, or any other vertical, the opportunities in the Indian fintech space are multiple. While startups in such business tend to weed out the friction and offline touchpoints involved; consumers looking for long-term wealth creation through fintech companies often get confused. Hardly any company offers the customers a full-stack solution.
Given the busy lives of urban professionals, there is a need for a full-stack wealth management platform by the investors. Mumbai-based Cube Wealth promises to manage wealth creation aspect without actually involving you in the process.
“Our full-stack approach is deliberate as none of us have the time to deal with multiple products, services, or interfaces that entail different angles of the same problem – money management and wealth creation,” says Satyen Kothari, Founder, and CEO of Cube Wealth.
Cube Wealth aspires to cater to the urban professionals, covering all the aspects of their investments through a single application that only requires a minute a month.
Why did Cube Wealth decide to go for a full-stack approach?
After exiting from Citrus Payment, Kothari was preparing for his new venture in the consumer finance space. He interviewed hundreds of urban professionals to understand the hassle involved with long-term investments.
“Lack of financial literacy, time, and discipline were the three major challenges for them,” explains Kothari.
“Accessibility to the best-performing wealth advisors is restricted to the extremely rich. And, we are changing it,” he emphasises.
Goal-oriented financial management: The MANTRA of Cube
Members are provided with an option of goal-oriented financial management. It factors priorities such as education, personal affairs, home, travel, and so on. Once you set the goal up, Cube Wealth saves for the same via EMIs. Additionally, it parks the money in liquid funds for you to earn almost double the interest, against a typical bank account.
If you need inspiration on where to spend money – Cube Wealth covers them under ‘Dream Goals’ sections that include items like supercar rental, or scuba diving in the Andamans.
Managing expenses are one of the biggest headaches for customers. The platform, however, claims to crack it through easy bill payments (utility bills, as well as house staff payments for maids, cooks, and drivers) at the click of a button. It requires less than a minute every month to approve all payments.
Cube democratises accessibility to blue-chip wealth advisors
Wealth creation requires investing in high-quality business and assets. It requires discipline, without being swayed away by fear or greed. It requires staying invested for a long time to let compounding do its magic.
“Cube Wealth has a simple, proven wealth creation formula,” asserts Kothari.
The platform claims to provide access to the best wealth advisors in the market which are otherwise accessible only to UHNIs. “We’ve negotiated to bring such advisors at low monthly SIP amounts to the Indian professional user. It automates the discipline required and educates them to stay invested for a long time,” adds Kothari.
Cube sees gold in catering to affluent working-class
The fintech market is huge and can easily accommodate traditional players as well as emerging digital ones. “There is plenty of room for many to educate and enable the Indian urban professional across various strata of society,” says Kothari.
Meanwhile, no app in the Indian market automates and simplifies the entire wealth creation and money management problem the way Cube Wealth promises to. Unlike many other consumers facing investment apps, Cube aims at a specific niche – the Indian affluent professional including techies, doctors, and creatives amongst others.
While there are many fintech platforms eyeing to become investment channel for SIPs, mutual funds and the stock market, their approach is far from being full-stack. Owning the entire value-chain certainly positions Cube Wealth apart from the existing solutions in the market.
Since Cube Wealth is targeting only the affluent professional class, it would be exciting to see how it draws the users’ attention in coming future.