Bengaluru: Fintech startup Zeny has become the first daily SIP mutual fund app to go live on the Open Network for Digital Commerce (ONDC), aiming to bring structured savings options to India’s informal and gig workforce.
Founded by Oxford University alumni and Skoll Scholars Nikhil Nair and Nikhil Saigal, Zeny offers sachet-sized investments starting at Rs 100 per day. The app channels these contributions into Aditya Birla Sun Life’s liquid mutual fund, designed as a low-risk entry point for first-time investors from non-salaried segments. By using UPI autopay, Zeny enables frequent micro-deposits, encouraging habit formation among workers who often lack access to formal financial products.
Despite mutual fund assets under management growing at nearly 20% CAGR over the past decade, penetration among informal workers remains under 2%. Zeny positions its product as a flexible alternative to fixed deposits, offering liquidity, no lock-in, and daily deposit or withdrawal options.
According to Zeny co-founder Nikhil Nair, the initiative intends to make financial inclusion more accessible by providing informal workers with a simple tool to save and earn steady returns. The company also plans to leverage AI for voice-based app navigation, financial literacy, and alternative credit scoring to widen reach.
ONDC, which promotes interoperability and affordability across digital commerce, views Zeny’s model as aligned with its mission to democratize access to financial services, particularly for underbanked groups.
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