14th May 2023, Kathmandu
The number of persons investing in the stock market has recently increased. Some people invest at the request of others, while others invest on their own.
For people interested in learning about the stock market, there is a platform available in the market. Some platforms are complex, while others are costly. Not every function is available on every platform. As a result, not all Nepalis have gained financial understanding.
A platform named Money Mitra is available on the market to address this issue. Money Mitra Ideapreneur, which was released one month ago, is a Nepalese product.
Money Mitra, a stock market and financial knowledge platform that was prepared in one and a half years
Sanjog Koirala, founder, and CEO of Money Mitra stated that after one and a half years of hard effort, Money Mitra was ready to teach all Nepalis about the stock market and finance.
Money Mitra is a financial powerhouse. “We have made finance simple and convenient in this,” Koirala told ICITY news. “Finance has been developed in such a way that both educated and uneducated people can understand it.”
In addition, Koirala, who is also an artist, has been in business for a few years. He is a content producer who studied CA in India. In 2020, he launched Ideapreneur Nepal, a YouTube channel dedicated to imparting financial information.
They were developing financial-related videos for teenagers. Many people choose the channel in a short period. While producing the video, many of the audience’s complaints began to show in the comments. After that, Koirala realized, “Many people in Nepal do not know anything about finance.” And he began to work on the problem. There is believed to be a business between the problem and the solution. That is the prize, my dear friend.
Money Mitra was inspired by a comment on a YouTube video, according to Koirala. The notion that emerged from the remarks is now the charioteer for millions of Nepalis. People are eager to invest in the stock market, but they lack the necessary expertise.
Simple to Use:
He claims that all of the software on the market is overly complicated. ‘Current software is a bit difficult,’ he continues. Everything is data-driven. When looking at the statistics, someone who is unfamiliar with finance becomes perplexed.
However, Money Mitra has prepared the facts so that everyone can grasp them. Charts and graphics are also used to display data. Money Mitra offers stock market research, broker recommendations, personal financial counseling, courses, publications, and other services. Another of Money Mitra’s strong points is his user interface (UI). The user interface has been aesthetically designed to be simple to use.
Money Mitra offers daily stock market data, technical analysis, financial management and counseling, notifications, newsletters, reports, broker commission, broker’s share buying and selling, and holding, among other services.
What distinguishes Money Mitra?
Money Mitra is similar to a shopping mall. You can receive all the information on Money Mitra Finance in the same way that you can buy products at a shopping mall. That is why it is referred to as a “Super App,” as it combines numerous functionalities into a single platform.
Money Mitra now offers five different sorts of services: Gurumantra, Broker Chirfar, Vrdhi, Ideapreneur Knowledge, and Ideapreneur Course. You can use Money Mitra’s amenities according to your needs, according to Koirala.
Gurumantra’s job is to assist you in investing by performing technical stock market analysis. Gurumantra also keeps 16 stock baskets.
According to Koirala, it is useful for individuals who want to invest in good companies based on the industry without conducting any analysis. Gurumantra founded BASTEC after thoroughly researching the industry.
Daily data, portfolios, stock baskets, live markets, IPO information, alerts, transaction details, mutual funds, trading charts, comparisons between different firms in the same sector, and so on are all available through Gurumantra.
Similarly, broker Chirfar performs the function of delivering broker information. Broker Chirfar demonstrates how to compare and select a broker.
Growth is another characteristic of being a friend. Vrdhi manages your finances. In addition to being able to manage costs, the rise aids in the creation of budgets for vehicles, houses, vacations, retirement, and so on. Overall, growth will be important in your financial management.
If you wish to work in the finance industry. So, if you want to learn about finance in the beginning, the ideapreneur course and information can be beneficial. You can find classes, articles, and other useful information on finance and investing.
Money Mitra now offers 5 services, with two new ones on the way. Artificial intelligence (AI) has been making headlines for quite some time. Money Mitra is also planning to incorporate AI capabilities. According to Koirala, AI will be available in Money Mitra shortly; work is now underway. AI will simplify analytics even further.
How should it be used?
Money Mitra is accessible via both a mobile app (Android and iOS) and a website. It is not necessary to create separate accounts to use both ways. The app and website can both be accessed using the same username and password.
Money Mitra is available in both free and paid versions. Only a subset of the functionalities are provided for free. There are two free plans. The first bull and the second shark.
Bull’s monthly charge is set at 299 rupees, while Shark’s is set at 499 rupees.
To begin, if you wish to try the service, Money Mitra has provided a three-day trial period that covers all premium features. After three days, it will automatically revert to the free plan.
Bull customers will receive limited facilities under the premium plan, whereas Shark members would receive all facilities.
Koirala claims that there is no need to create separate designs for each of Money Mitra’s facilities. Money Mitra presently operates five facilities. ‘There is no need to purchase separate subscriptions for each feature,’ he explains. ‘Bull customers can utilize the limited features of 5 services, whereas Shark users can use all features.’
After 3 p.m., there will be a free share price, a basic company search, two stock baskets, watch stock, a portfolio, a calculator, and other features.
NEPSE Live Updates, Company Search, Screener, 12 Stock Baskets, Paper Trading, 15 SMS per month, 100 popups per month, up to 30 stock watchlists, portfolio, 100 alert popups, all elements of Broker Chirfar, growth, and knowledge are included with the Bull subscription.
In just one month, Money Mitra has received over 17,000 downloads. More than 15,000 people have signed up. It can be accessed via the app or the web. Initially, the system had issues, but it is now stable. He stated that user feedback has been positive in recent times.
There were flaws in the system at first. “We fixed the bugs,” he stated. “It was quickly adopted by a large number of people.” The user response has been positive.
Money Mitra has made client data protection a major priority as cyber security challenges grow. External auditing and VAPT are now underway. Money Mitra has requested an ISO certificate. Koirala appears to be sure that the ISO certificate will be issued soon.
Money Mitra presently has a team of 18 individuals working around the clock to ensure the company’s success. According to Koirala, there are numerous barriers and difficulties in launching a company in Nepal, but in the future, we will deliver products that add value and facilitate the financial industry.