Finvasia

Finvasia is an Indian fintech company headquartered in Mohali, Punjab. The organization has expanded its hands into healthcare services by acquiring Ginihealth[1] and into retail FX space by acquiring major investment platform Zulu Trade[2] where the existing CEO of Finvasia Tajinder Virk became Zulu's interim chief.[3]

Finvasia India
TypePrivately held company
Founded2009
FounderTajinder Pal Singh
Sarvjeet Singh
Headquarters
Mohali, Punjab
,
India
Websitewww.finvasia.com

History

Ex Wall Street banker Tajinder Pal Singh and brother Sarvjeet Singh[4] started Finvasia in Canada in 2009 and ventured into India after registering with the Securities and Exchange Board of India (SEBI) as Foreign Institutional Investor (FII, now FPI).[5]

In 2013, the company entered the retail brokerage market after receiving regulatory approvals from NSE and MCX.[6]

In 2015, Finvasia became a trading Member of the Bombay Stock Exchange Ltd (BSE) and The Association of Mutual Funds in India (AMFI).

In 2016, Finvasia received foreign direct investment (FDI) funding against a valuation of ₹150 crore from Mauritius-based Intrinsic Investment Limited.[5][7] In the same year, it was named among the 20 Most Promising Banking Solution Companies by Silicon India.[8]

In 2017, the company received the license to operate as a non-banking financial corporation (NBFC) from RBI.[9]

In 2018, the company became a member of the National Commodity & Derivatives Exchange Limited (NCDEX) & received SEBI registration to allow its clients to trade on NSE, BSE, MCX & NCDEX from a single trading account.

In June 2021, Finvasia group acquired a 100% stake in Fxview  - a financial services company based in Cyprus. [10]Finvasia acquired fintech company ActTrader Technologies in 2021. ActTrader was formerly known as Act Forex.[11] In 2023, Finvasia got the Investment Banking Licence from the Financial Services Commission of Mauritius (FSC).[12]

Awards

2017: Awarded Best Trading Execution or Brokerage Platform at the 2017 Benzinga Global Fintech Awards in New York, USA.[13]

References
  1. "FINVASIA Acquires Gini Health, Expands Into Healthcare Services". www.morningstar.com. 2021-10-28. Retrieved 2021-12-26.
  2. Steves, Rick. "FINVASIA ACQUIRES MAJOR SOCIAL TRADING PLATFORM, ZULUTRADE". Finance feeds.
  3. "Finvasia CEO Tajinder Virk Becomes ZuluTrade's Interim Chief". Financial and Business News | Finance Magnates. Retrieved 2022-04-29.
  4. "Finvasia expects to open 10 million accounts by 2020: MD and co-founder Sarvjeet Singh Virk". Free Press Journal.
  5. D'souza, Vanita (2017-09-15). "These Brothers are using AI to Kill the Brokerage Model in Capital Market". Entrepreneur. Retrieved 2020-12-07.
  6. "Finvasia Approved to Transfer Commodity Membership in Capital Market". Punekar News. 2018-10-22. Retrieved 2020-12-07.
  7. "Finvasia gets FDI from Mauritius-based entity". The Tribune (Chandigarh). Retrieved 2020-12-07.{{cite web}}: CS1 maint: url-status (link)
  8. "20 Most Promising Banking Solution Companies in India - 2016". siliconindia. Retrieved 2020-12-07.
  9. "Finvasia gets licence to operate as NBFC". Tribuneindia News Service. Retrieved 2020-12-07.{{cite web}}: CS1 maint: url-status (link)
  10. "Finvasia Group Announces Acquisition of Fxview | Finance Magnates". Finance Magnates | Financial and business news. 2021-06-15. Retrieved 2021-07-14.
  11. "FINVASIA Acquires ActTrader Technologies | Finance Magnates". Finance Magnates | Financial and business news. 2021-07-20. Retrieved 2021-11-17.
  12. "Breaking News: Finvasia Group Secures Investment Banking Licence | Forexlive". Forexlive | Forex News, Technical Analysis & Trading Tools. Retrieved 2023-03-06.
  13. "Finvasia bags Benzinga Global Fintech Award". The Tribune. Retrieved 2020-12-07.{{cite web}}: CS1 maint: url-status (link)
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