IIFL Holdings on Tuesday said its subsidiary IIFL Securities is in the process of acquiring 15 per cent strategic stake in Bengaluru-based fin-tech start-up Trendlyne (Giskard Datatech Pvt Ltd), a stock market analytics’ platform for retail investors, analysts, fund managers and advisors.
IIFL Securities has 3.7 per cent share of daily cash turnover in Indian markets and its mobile app ‘IIFL Markets’ has over 2.1 million users.
Founded by Amber Pabreja and Devi Yesodharan, Trendlyne.com aims to simplify investing via its cloud-based, proprietary always-on data-engine strategies that processes hundreds of millions of rows of data to give powerful insights in real-time, a press statement from the company said.
Aniruddha Dange, Digital Strategy Head, IIFL Group, said though the online retail investors have grown by 50 per cent in the last year, a large segment of investors still trade on the basis of ‘tips’ through unverifiable sources.
“Our aim is to provide them with reliable structured data which have been time-tested. While most of our growth has been organic, we have always been open to aligning and investing with the right partners in the business. Trendlyne offers retail investors access to advanced analytical tools — screeners, deep analytics, powering features such as complex querying, backtesting, DVM scores, custom alerts and superstar portfolio,” Dange added.
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