Elearnmarkets: How is this Fintech Startup providing financial education to make Indians financially "Atmanirbhar"?

Mr Vivek Bajaj, Mr Vineet Patawari are alumni of IIM Indore and ICAI. More than half a decade back, they recognised that millions of Indians don't have easy access to proper knowledge of finance. But they thought that this was a critical life skill. Hence, they started Elearnmarkets to spread financial literacy to every Indian.

The other driving force behind this endeavour was Mr Vinay Pagaria, CA. He was the third co-founder and CTO of Kredent InfoEdge. Together they roped in some of the best finance professionals of India to develop courses. Today, they deliver live classes and webinars on this platform. Since its humble beginnings, Elearnmarkets has added 100+ e-learning and live finance courses and 250+ webinars in English and many regional languages.

With CiOL, the founders have drafted their journey with Elearnmarkets. Their journey can encourage Indians to get financial education and the journey may inspire many budding entrepreneurs, too.

The Customer

Poor financial education is a major problem in society. Elearnmarkets was the earlier ones to realize this. The online financial learning venture came out in 2014 for the purpose of taking financial education all over the country. The organization has been focused on training retail investors on various aspects of financial markets like trading, investing and research.

As on date, there are over 500000 learners from over 200 cities in India. Elearnmarkets is available both on the web and as the mobile application. It has 200+ finance learning modules, many of which are certified by NSE Academy, MCX, NCDEX. There are hundreds of market experts with huge experience in Indian Stock Markets who train students of Elearnmarkets.

The Challenge

In India, everyone believes that he or she is an expert, especially when it comes to managing money. People are ready to lose money by taking wrong decisions and not invest in their own learning and development. Hence, the biggest challenge faced is the mindset of people to pay for learning as old school market participants in India believe that they know everything and even if they don’t know anything, there are enough intermediaries in the market available to teach them about various concepts, free of charge.

But the challenges are now lesser. This mindset is gradually changing as traditional methods of financial management is also evolving. Especially, the young population, millennials are changing the business landscape across industries. "We believe due to our thrust on knowledge, we will be a major beneficiary in the ecosystem," state the founders.

The Solution

Elearnmarkets offers more than 100 career-oriented online courses, many of which provide the students with a joint certification from renowned industry bodies like NSE Academy, NCDEX and MCX. It also regularly conducts webinars, boot camps, workshops and live interactive online courses on various financial topics, which are conducted by market experts and celebrity stock market trainers. Their expert-led recorded and live online finance courses are available in English, Hindi, Bengali, Telegu, Marathi and Gujarati.

The courses cover the entire gamut of finance. They include Stock Markets, Commodities, Currency, Mutual Fund, Insurance, Financial Planning and Wealth Management. These courses provide the learners with basic to advanced level knowledge on stock market investing, fundamental and technical analysis, and options trading. Anybody can start learning about finance from these courses to become a better trader, investor, or for building a career in the financial services industry of India.

The team

Co Founder (L-R) Mr Vinay Pagaria, Mr Vineet Patawari, Mr Vivek Bajaj

ELearnmarkets has 3 founders- Vivek Bajaj, Vineet Patawari and Vinay Pagaria. Vivek Bajaj started the company to train individual investors on various aspects of finance through their offline centre Kredent Academy in Kolkata. Vivek Bajaj is a Chartered Accountant, Company Secretary and an MBA from IIM Indore and his family owns one of the largest proprietary trading desks in Eastern India with over 150 full-time traders.

Vineet Patawari, a pass out of IIM Indore and a Chartered Accountant, had an inspiration of building internet based scalable businesses. He shunned the campus job offer and started his eLearning venture into MBA entrance exam preparatory. He later joined hands with Vivek to expand in the financial education space.

Vinay Pagaria, Chartered Accountant by qualification but a hard-core techie by profession, has had 15 years of experience in software development in FinTech domain.

Their cumulative experiences and expertise in the field of financial markets; learning management systems; visualization of learning tools; most importantly their passion for spreading Financial Literacy makes them the perfect team to take this product to the global scale.

The Implementation

"Since we are a B2C company our products are usually oriented towards empowering direct retail customers. If we remember, our first cheque was from a young 16-year boy. He wanted to start investing and was keen on learning the science behind it. He finally went ahead and did his MBA from a reputed B school. The learning of the market helped in tremendously while he was pursuing his knowledge in the School and thereafter," share the founders.