An Indian-American entrepreneur from Silicon Valley has launched an artificial intelligence-based platform through which people can invest in stocks for as low as USD1.
"We are bringing one of the best ways to earn more to people who need it the most. We are trying to make the investments as much as possible to be socially responsible, impactful and conscious," Selvan Rajan, CEO of SmartMoney IA, said in a statement on Monday.
"Investors can now invest as little as USD1 to start investing in the stock market. The SmartMoney IA platform customises investments for each customer and efficiently maximises returns. The platform aims to make stock market investments more accessible to small-time investors with this feature. It offers both free and paid transactional services," the statement said.
Smart Money Investment Advisors (SmartMoney IA) is a Silicon Valley-based investment advisory company.
"SmartMoney IA was conceived to make stock market investments accessible to more people, even those who have limited savings by studying the barriers that people have that put them away from investing: lack of time, exorbitant cost and not knowing how to analyse investment opportunities and where to find those opportunities," Rajan said.
"People can invest a tiny amount that grows gradually over time. A tiny amount and a huge amount will get the same and equal treatment on our platform. Investing in the stock market is one of the best ways to maximise one's income, but the perception is that one needs a sizable initial capital to start investing," he said.
SmartMoney also has operations in India.