Home Start-Up Tinder is supporting women-led businesses in India with free in-app inventory: Meet MindPeers & Stack Finance and the inspiring women behind them

Tinder is supporting women-led businesses in India with free in-app inventory: Meet MindPeers & Stack Finance and the inspiring women behind them

by Economic Times
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Tinder realises the power of community, and while they spark connections between people who wouldn’t have met otherwise they also want to connect you to a diversity of ideas. They’re committed to doing their part to drive #eachforequal in the workplace, and that includes supporting female-led businesses. Tinder offered up to $1 million in free in-app advertising for eligible female-led businesses, to introduce them to an engaged and young audience and to help amplify their vision.

This article is part of Tinder’s $1 Million dollar pledge to offer free in-app ad inventory to female-founded start-ups. In each story, we share a glimpse of 2 of the 10 recipients as well as their company’s vision and commitment.

Meet Kanika Agarwal of MindPeers

ET Spotlight

The access to mental health services in India is challenging – from finding the right therapist or psychiatrist to making sure they are affordable and easily accessible, there are multiple things we need to consider. This is what inspired Kanika Agarwal to launch MindPeers. A mental health services tech start-up, Mind Peers is providing affordable, accessible and measurable therapies and mental wellness programs. With India’s first tech-based Employee Assistance Program, MindPeers has been transforming the way people look at mental health services.

Talking about its launch and the inspiration behind it, founder Kanika Agarwal said, “We launched in Jan 2020 and currently fulfil about 1400+ therapy sessions monthly. From seeing a 32% rise in users seeking help for domestic abuse-related trauma, LGBTQIA+ community members looking for avenues to vent, youngsters finally opening up about loneliness and work stress and more corporates signing up for mental health programs, our journey tells us that this pandemic might have physically limited us but it has mentally opened us.”

The motivation behind this much-needed service is Kanika’s own battles with mental illness. Kanika was busy building her first start-up when she immersed herself in work and experienced burnout. “My first startup was launched in 2016, headquartered in Singapore and it currently makes about $700k annual profit. While I was busy scaling my first startup, I didn’t realise when the daily 20 hours of work led to burnout and panic attacks. In 2017, I went through severe anxiety and while I was lucky to have a supportive ecosystem, the cost and effort of finding a quality therapist were just too high. I was quite vocal about my mental health recovery only to realize how many suffer in silence. This led to MindPeers- my second startup,” she said.

The lockdown has led to a 146% growth for MindPeers. Shedding more light on this jump, Kanika said, “Lockdown has tested individuals at all levels but the biggest test was to their mental strength of accepting unpredictability and changes. So, overall it gave the business a positive boost. Two things that gave me immense happiness during this pandemic was how a lot of people who have gone through domestic abuse stepped up to seek help so that they can feel better about themselves and start to trust again, and secondly, corporates that adopted mental health practices not only for their employees working from home but also to help navigate the ones who have been laid off.”

Talking about the doors that this opportunity with Tinder could open, Kanika said, “. At times like these its self-esteem issues, confidence, body image, trust issues, previous relationship baggage etc. that truly affects people’s minds, especially youth who are now more openly seeking professional help for such things. It feels like the Perfect Match.”

Meet Smriti Tomar of Stack Finance

ET Spotlight

Smriti Tomar

Smriti Tomar was 16, when she stumbled upon one of Warren Buffet’s best-selling books and since then has been passionate about the stock market, finance and investment. Stack Finance, a first of its kind Social Banking platform further fueled this passion. Stack Finance first began as an offline model, with Smriti and her team helping individuals with their financial plans. But the overwhelming response and the sheer need for proper and trusted guidance in the investment world led their business online.

“Stack empowers millennials to lead healthier financial lives by automating savings, expenses and investments, and more so along with friends and family, hence making personal finance fun and fulfilling for people. It uses artificial intelligence and machine learning extensively to provide an extremely personalised and automated experience. In simple terms, it’s a financial advisor sitting in your pocket that helps you save and grow your money,” Smriti added.

An engineer from NIT-Bhopal, Smriti has been recognised extensively for her financial planning platform. “We have since received a lot of accolades and recognition from India- top 10 wealth management startups (NASSCOM), Conquest, TOI, IBS Intelligence, YourStory and also globally by Hong Kong Science and Technology Park, Stan Group etc,” Smriti said.

When asked about her own journey with financial planning and investment, Smriti shared, “I was working in a start-up while in college, and I invested my stipend in the stock market. That’s how I got hands-on knowledge and soon helped guide my friends who wanted to invest. I tried a lot of books, courses, products to plan my financial life, but it was all so confusing and tedious. So, I started a small part-time venture of financial planning with one of my friends, which quickly gained popularity. And after a year I quit and started Stack Finance.”

Smriti also spoke about the impact of the current lockdown on Stack Finance and said, “ Some services like digital payments have proliferated while others like PMS have gone downhill. Since our business provides a mix of services across personal finance much like a marketplace, it hasn’t really been affected. In fact, we believe it’s an opportunity- our users and followers’ community is more financially conscious than before, and hence we believe a service like ours plays an imperative role in helping people manage their personal finance and be financially secure for the future. Having said that, we have also modified the product based on these projections.”

Tinder’s opportunity is bound to help Tinder members find the right financial plan. Talking about this, Smriti said, “It’s a pleasure to associate with Tinder for a marketing campaign. Tinder is extremely popular amongst our target audience hence will be very relevant for us to spread awareness about our product and services and eventually enable us to help young spenders lead healthier financial lives.”

This Tinder is supporting women-led businesses in India with free in-app inventory: Meet MindPeers & Stack Finance and the inspiring women behind them was originally published on https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/tinder-is-supporting-women-led-businesses-in-india-with-free-in-app-inventory-meet-mindpeers-stack-finance-and-the-inspiring-women-behind-them/articleshow/76217410.cms

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