FnO has raised over S$2M in angel round from marquee investors globally. FnO wants to democratize Futures & Options (F&O) by creating customized structured trading products with built-in risk management for common people. Vishesh Dhingra, founder & CEO said, “FnO’s vision is to be synonymous with F&O.” “And we plan to achieve it by making F&O trading easy, affordable and less error-prone”, he added.
The idea stemmed when Vishesh got underwhelmed with the archaic financial products and unpleasant experience offered to retail F&O investors. Having seen the kind of sophisticated financial products offered to wealthy clients by institutions, he knew that technology was ripe to enable the same for common people. To bridge this gap, he created FnO at the intersection of algo-trading, digital products and easy user experience. “We want to treat our retail users as well as institutions treat their high net-worth clients”, he added. He immediately connected to his old mate Thomas Joseph, who is an expert in the derivatives trading ecosystem with his stints at Merrill Lynch, Morgan Stanley and Ambit Capital. Thomas fell in love with the idea and decided to cancel his early retirement plans to co-found and run operations & compliance at FnO.
Having a first-hand experience of start-up journeys, Vishesh knew that FnO needed a very strong team to execute the company’s B2C vision and the right set of global investors to back it. To build a foundation of both these aspects and take the business forward, he asked Mayank Tayal, a fellow IITian & INSEADer, who had been an advisor and supporter of FnO right from ideation stage, to join the company and lead marketing, business development and investor relations. With product and technology being the core, FnO got Anupam Kaul and Kunal Kapoor, seasoned technology professionals with a knack for creating innovative products at multi- national organizations. Carlo Lacrimini joined as CFO to ensure financials and corporate governance are in order from the very first day.
“F&O is a $500trillion industry worldwide with retail participation accounting for 30-40% and growing every year”, Mayank commented. To capitalize on this huge yet underpenetrated global market, FnO team leveraged its 100+ years international work experience and network to attract key individual investors from India, China, Hong Kong, Singapore, UK, Europe, Middle East, Australasia and USA. Many of their investors have been part of well-known financial services, asset management and consumer internet companies worldwide for a number of years. “Having a global investor base gives us the necessary local perspective and connections to enter these markets gradually”, Mayank added. FnO intends to bring its first product to Indian retail investors in the next few weeks. With burgeoning smartphones’ penetration and cheap internet accessibility in India, FnO plans to leverage digital marketing channels to access Tier 1 & Tier 2 cities by gamifying the F&O trading experience. FnO has their Phase 1 waitlist full and is currently registering users for Phase 2. “We are the first ever platform in the world dedicated only to F&O trading”, Vishesh commented.
Register @ https://www.fno.co to be a FnOer today.
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