MEDICI now! The RupeeVest Story

MEDICI now! Startup Stories highlights the companies that are shaping the new financial technology industry. Keep an eye out each week for new stories! If you or someone you know should be highlighted, send us a note. Without further ado…

Company Name: RupeeVest

Name/Title: Varun Mundra, CEO & Co-founder

Industry Segment: Personal Finance

Target Markets: India

LTP: Tell us a little bit about yourself.

Varun Mundra: I am Varun Mundra, an entrepreneur and one of the founders of RupeeVest. I completed my B. Tech in Computer Science and Engineering from IIT Kharagpur in 2011 and worked with Oracle for 1.5 years before we started RupeeVest.

LTP: Give us a paragraph pitch for your company.

VM: RupeeVest is an online investment and research platform for Mutual Funds and Corporate FDs, aimed at providing a safe and hassle-free investment experience through leveraging smart technology and in-depth research.

  • Invest Anytime: As soon as the one-time paperwork is complete, you can make smooth, hassle-free investments with the click of a button.
  • Data at your fingertips: Our Mutual Funds Screener helps users scan the entire universe and choose the mutual funds that best suit their risk appetite and investment goals.
  • Wealth Creation: We have developed our proprietary rating methodology which has a proven historical performance track record, to help investors select funds with a higher probability of outperformance.
  • Zero fees: We do not charge any fee/commission for our service; we have tied up with all major AMCs which give us a small brokerage for the business we generate with them.
  • Safe and secure: We use NSE NMF II transaction platform by National Stock Exchange of India which ensures state of the art technology for transactions and security.

LTP: In a sentence or two, what problem are you solving today?


  • Biased/ambiguous research: The most popular mutual fund rating agencies and websites have primarily used only historical performance as their rating criteria. However, it has been of little help to the investors as there is no recent documented history or track record of their top rated funds’ performance. Our proprietary algorithm gives unbiased mutual fund ratings with a documented performance track record.
  • Principal-agent problems: Agents often give their clients unsuitable advice or incomplete information to sell products that offer high brokerages. As a result, the client ends up with products that don’t suit his risk appetite. We make all information transparent and provide tools for users to carry out their own research before investing.

LTP: Who are you selling to?

VM: Our clients include anyone who wants to invest their money. We are currently targeting:

  • New investors who are young, tech savvy professionals looking to invest their earnings without hassle
  • Existing investors who want access to easier investing and tracking of their portfolio
  • Corporates who want to invest in funds for a short period of time instead of keeping their money in a current account which gives 0% interest.

LTP: Why did you start the company?

VM: A few years back, I was looking to invest my surplus money in an appropriate fund but the procedure to invest was a tedious one. Also, it was difficult and confusing to choose an appropriate fund. That is when I realized that investment in India is mostly restricted to bank FDs and such traditional investments which offer low returns. I knew there was a latent demand for a portal which made investing easy and simple for everyone.

LTP: What's the most important change coming to your segment in the next 3-5 years?

VM: Transactions once handled with paper money, bulky computers, and human interaction are now being completed entirely on digital interfaces.

As technology integrates deep into consumers’ lives, the financial services industry is undergoing rapid expansion and significant structural changes. Mobile banking and payments are gaining traction while new software and automation programs are streamlining work for businesses and individuals.

LTP: What’s your next milestone?


  • To add PMS and bond/NCD offerings to our existing product portfolio
  • To develop an equity research platform

LTP: Anything else you want to say to our audience?

VM: You can visit us at and check out our Mutual Fund Screener at

LTP: If you could change one thing that financial services people do incorrectly, what would that be?

VM: Financial services people have often given unsuitable advice, not explained the risks or haven’t provided the required information. As a result, customers end up with a product that isn’t right for them. We are aiming to change this by making all information transparent and providing users the tools to carry out their own research before investing.

VM: Thank you, Varun!

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