Highlights

  • Shoonya has over 200,000 accounts: Sarvjeet Virk, Co-founder & MD, Finvasia
  • Shoonya is among top 20 brokers in account additions per month: Virk

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Shoonya, the flagship brand of Finvasia, provides a range of services including brokerage in commodities, equities, mutual funds etc

Startup to Scaleup | Spotlight on Shoonya by Finvasia, an AI-powered zero brokerage trading platform

In 2020, the Indian stock markets, long striving for increased outreach to non-metro and hinterland areas, witnessed an influx of new, young investors. The surge in trading activities led to a boom in trading apps.

To delve into this phenomenon, Avni Raja from Editorji interviewed Sarvjeet Virk, Co-founder & MD, Finvasia.

Shoonya is a multi-asset investment platform that operates on a zero-brokerage model. As the flagship brand of the technology-driven company Finvasia, Shoonya offers brokerage services in commodities, equities, forex, research advisory, structured investments, asset management, currency hedging, corporate funding, real estate, mutual funds, financing, and more.

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Speaking about Shoonya's model, Sarvjeet Virk emphasized its principles: eliminating costs from buying and selling, prioritizing digital scalability, and positioning Shoonya as the pioneer of the commission-free model.

He further discussed the platform's growth over the last few years, noting that Shoonya recently crossed the milestone of 200,000 accounts. Additionally, he highlighted that Shoonya ranks among the top 20 brokers in terms of account openings.

While discussing the role and impact of artificial intelligence in trading, Sarvjeet mentioned that the customer response to AI has been positive. He also elaborated on Shoonya's journey towards launching AI tools for retail clients, emphasizing that AI classes for his whole team and internal AI model development were key building blocks in that process. Additionally, he highlighted AI's transformative impact on market perspective through predictive analysis.

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While discussing the technical glitches that trading platforms face and the resulting risks, Virk emphasized that 'Shoonya prioritizes creating awareness, particularly amidst the surge in financial inclusion.

Virk also delved into the rising trend of retail investors flocking to riskier assets. He mentioned that Shoonya's proactive approach aims to ensure investor awareness, with a focus on promoting investment initiation through mutual funds for a secure start.


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