Driving Financial Innovation:
INDmoney's Triumph with Yotta G1 in GIFT City

INDmoney, India's premier personal finance application, has partnered with Yotta to revolutionize investment opportunities for millions of users. As the first customer of Yotta G1, INDmoney is leveraging Yotta's cutting-edge G1 Data Centre in GIFT City, now standing as the sole platform in India that facilitates smooth trading in both Indian and US stocks. Discover how Yotta G1’s advanced infrastructure, robust data solutions, and dedication to expansion are propelling INDmoney's ambition to scale and innovate in the rapidly evolving financial sector. Together, we are shaping the future of fintech in India.

About Company

INDmoney is reshaping financial management for Indians. As a comprehensive personal finance app, it enables users to monitor their family’s fiscal health, set goals, and explore various investment avenues including mutual funds, Indian stocks, US equities, ETFs, and more. With a goal to streamline wealth management, INDmoney delivers a smooth digital experience for households across India.

A Purposeful Mission: Fulfilling Critical Business Needs

As a fintech firm regulated by the International Financial Services Centre Authority (IFSCA), INDmoney required a data center service provider that could securely host its data within the jurisdiction of GIFT City in Gujarat. This need arose from stringent compliance requirements and a commitment to ensure high availability, low latency, and optimal performance for its financial services platform. 

After careful evaluation of various industry partners, INDmoney selected Yotta G1 for its operations in GIFT City. 

Yotta’s first-mover advantage in GIFT City, coupled with its ability to meet regulatory standards, made it an appealing partner. Yotta’s G1 Data Centre offers world-class infrastructure, tax benefits, and easy global access. Located in GIFT City’s IFSC zone, it complies with IFSC regulations, providing free foreign exchange convertibility and a business-friendly environment. Additionally, GIFT City is proposed to be established as a secure data embassy for international companies, ensuring data sovereignty under India’s regulatory laws 

Yotta G1 boasts advanced infrastructure, including high scalability, low latency, and robust data security. This aligned perfectly with INDmoney’s vision of a swift, secure, and compliant solution for its expanding user base. 

Challenges

Ensure compliance with the International Financial Services Centre Authority (IFSCA) regulations, protect sensitive financial data, accommodate rapid growth, maintain low latency for real-time trading, and enable seamless access to international markets for US stock trading.

Solutions

To overcome these challenges, INDmoney partnered with Yotta G1 Data Center in GIFT City. Yotta’s data center provided secure and compliant infrastructure, efficient data migration, scalable resources, robust security measures, global connectivity, and advanced AI capabilities through its partnership with NVIDIA. These solutions enabled INDmoney to successfully expand its operations, meet regulatory requirements, and provide a high-quality financial platform to its users.

“Partnering with Yotta G1 Data Center in GIFT City has been a game-changer for INDmoney. Yotta’s secure, scalable infrastructure and seamless data migration from AWS S3 ensured compliance, performance, and uninterrupted operations. Their expertise has empowered us to onboard thousands of users and scale rapidly while meeting regulatory standards. Together, we’re driving innovation and shaping the future of fintech in India.”

 

Mr. Kausal Malladi

SVP & Head of Engineering (Stocks)

Seamless Data Migration: A Partner You Can Trust

Migrating with Confidence Yotta’s hands-on support during the migration of INDmoney’s object storage from AWS S3 to its G1 data center was a game-changer. The seamless process, which required minimal changes to the software environment, allowed INDmoney to accelerate projects and enhance time-to-market without any downtime. This partnership has empowered INDmoney to offer users the only app in India that facilitates trading in both Indian and US equities.

A Strategic Alliance for Growth: Empowering INDmoney’s Vision

INDmoney’s ambition is to enable its users to manage a full suite of financial services, including trading in both Indian and US stocks. INDmoney successfully onboarded over 25,000 demat accounts and aims to scale this number by 10x soon. Yotta’s scalable infrastructure supports INDmoney’s aggressive growth plans, making the partnership integral to the platform’s future expansion.

The Road Ahead: GIFT City as a Financial Hub

INDmoney is capitalizing on the investment opportunities presented by GIFT City. With plans to reach over 5 million users in the next three years, Yotta’s secure and compliant infrastructure is essential to supporting INDmoney’s vision of a thriving financial ecosystem.

Conclusion

The combination of Yotta’s world-class infrastructure, customized solutions, and growth-oriented support aligns seamlessly with INDmoney’s mission to deliver a holistic financial ecosystem for its users, both domestically and internationally. Yotta’s seamless migration process ensured a smooth transition of data and operations with qualified professional support provided INDmoney with the expertise needed for ongoing success. Together, INDmoney and Yotta are poised to create a robust and scalable platform that empowers millions of users in the future.