DerpyNarwhal

A personal finance app for Indians 💰

A lot of my friends are young software developers fresh out of college and are earning great amount of money at MNCs and startups.

But they have no idea where to invest it. How to save taxes. How to invest in a way that minimises their taxes.

Also some people have specific family needs or financial goals they want to meet. Everyone have different risk appetites. There’s not a single app that lets you figure all this out.

There are financial advisors appointed by SEBI but they generally advise private sectors and not individuals.

So how about a personal finances app tailored for Indians?

4mo ago

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SnoozyDumpling

Stealth4mo

How many Indians pay direct tax? How many such tax payers have a CA in their family that does their taxes? Competitor analysis? Of all these people, how many would want to pay for an app?.

To simply put it, your client base is very limited. App will fail.

DerpyNarwhal

Stealth4mo

If it would be only for people who actually pay taxes, it might have a small user base. But it will also tell all the basics of investment or at least could help you form an investment plan based on your financial needs.

On top of it I don’t think having small user base for an app is the end of the world. It isn’t certainly lucrative but still doesn’t directly means that the app will fail right