Comment on Introducing Sentinel

Matti commented on 29 May 2018, 12:00 PM

Hey Kishor,

Smallcase, Streak, Sensibull, etc., are separate businesses that charge for a service. Nothing wrong there.

As for Coin, we’re selling direct mutual funds here. One of the most important things for a business is to have a clear revenue stream. With direct funds, the only way to have any revenue is to charge the user. Would you allow a business that may shut down tomorrow to manage your investments? No. If there isn’t a clear revenue stream, then the business either plans to start charging later or will run aground once there are no more funds left to run the business. Both undesirable situations. MFU is run by the AMCs and your investments generate revenue for them. Not the case with us. CAMS & KARVY are RTAs and so their revenues come from charging the AMCs for the transactions. So having a charge for Coin isn’t really unreasonable. As for more features on Coin, we’re constantly working towards them. You should see these on the platform soon. Also, we intentionally stayed away from the conventional SIP mode this involves a lot of hassle for you, as the user, as the registration of each SIP could take up to 7 days and cancelling up to 9 days! So yeah, charging for the platform is justified.

Sentinel, as we’ve previously stated, has a charge because it’s on the cloud. Additionally, most other platforms that are free offer only simple alerts based on price and on single stocks. This is free even on Sentinel. Only more advanced features are charged.

In addition to all this, the first 25k worth on investments on Coin are free, stock investments are free for all (0 brokerage), and our brokerage is still at Rs. 20 or lower for everything else. We also run Varsity for everyone to learn the markets for free. Quality education elsewhere is quite expensive! If you look at the big picture, this is as economical as it gets.

So to answer your questions on whether these charges are justified, yes, they are. There is nothing that is hidden. All these charges are shown upfront and the user can choose to use the service or not. Is calling a business charging for some of its services ‘sheer greed’ justified?

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