Mumbai based Yobee, which designs proprietary algorithms to uncover new and unique patterns in the stock market, will soon launch, for the first time ever, mutual funds for traders. The fintech venture backed by Dheeraj Jain, Founder at Redcliffe LifeTech; Ruchirans Jaipuria, MD at Jaipuria Group; Shashidhar Jayaraman, Founder of PE firm Ask Pravi; Chetan Mathur, ex Director Pepsi, will be introducing a new concept to make short term trading as powerful as long-term investing while making it accessible for everyone. Yobee is attempting to simplify systematic trading by offering professionally created trading baskets with the transactional ease of a mutual fund. These baskets are adjusted on a shorter period such as daily or weekly and follow the norms set out by SEBI and exchanges like NSE.
Yobee will be utilizing the funds to further build out its technology stack and create multiple distribution channels by partnering with market intermediaries like brokers and platforms. The company was founded in 2020, by Salil Mathur and C. Ram, who have had distinguished careers in broking, banking, and quant trading with experiences in Angel Broking, Kotak Bank, Citi and Motilal Oswal. Yobee is a Huddle Accelerated venture, also advised by Tejinderpal Miglani, Founding CTO of Indiabulls Group. Post an oversubscribed first round of funding, Yobee will simplify the life of traders by offering features like single-click execution of baskets, live monitoring with the ability to easily exit at any time.
Mr. Salil Mathur, Founder, Yobee, says, “We are creating a new asset that combines the best of systematic investing & short term trading. Indian Markets are witnessing a surge in activity and this asset comes with safety measures baked in to promote discipline while being extremely simple to use by both new and existing investors. It can accommodate a variety of trading styles and crucially, respect the norms thoughtfully set by regulators”.
Sanil Sachar, Founding Partner, Huddle, says, “Yobee’s solution is catering to the continuously growing trading population in India. With the rise of traders, and the volume increase in this market, Salil and Chella have created a product which boasts accuracy, efficiency and caters to a large ask of the market, backed by a host of partnerships with prominent institutions in this sector.”
In today’s market, the experience of a long-term investor is significantly superior to that of a short-term trader. The existing solutions for these traders are too complex & expensive pushing it out of the reach of common traders. A vast majority of them break the norms laid out by SEBI making them unsafe.
With ever increasing involvement in the markets, it is important to introduce new, safe and SEBI compliant products for traders.
Yobee, through professionally created trading baskets that behave like mutual funds, is attempting to bridge this gap.
Tejinderpal, Founding CTO, Indiabulls Group, added to Yobee’s offering, “With ever greater participation in the capital markets, there is a need for sophisticated products for both the retail investor and trader. Yobee, through its unique trading baskets, has the potential to fill a gap for the discerning retail and HNI traders who now see systematic trading as an uncorrelated asset class”