Money-market account for the 250M middle-income Indians.
Easyplan is a money market account for the 250M middle income Indians. Our users earn 2x bank account returns, with no fees, lock-ins or minimums. We’ve been growing 12% WoW since launch, and have 17,000 users with currently funded accounts. The key thing we’ve figured out is acquisition. Our cost of acquisition is 10% of the industry average. We’re building a low-cost, high-trust distribution platform with our saving product. We will use it to cross-sell credit and insurance products. Middle-income Indians save almost 30% of their income. But <10% have invested in the market. Less than half have access to formal credit. The lack of data and distribution channels has left them underserved. We’re piggybacking on the rapid increase in digital payments penetration to sell tailored digital financial products directly to them. That’s a $10Bn opportunity in sales commissions alone.