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Introducing SimpleMoney!

Welcome to the SimpleMoney blog!

Since this is the first post, I wanted to use it to introduce SimpleMoney.

SimpleMoney is a portfolio tracker for Indian mutual funds, that takes ten seconds to setup.

Why we're building it:

SimpleMoney was built to solve our own frustrations with tracking investments. No tracker that we used was automatic; we always had to upload statements ourselves or enter the data manually. This took a lot of time. I know people who needed an entire afternoon to track their funds. I also know someone who made a data entry error, and later realized he was ₹20,000 poorer than he thought (that might have been me).

Cluttered interfaces, lack of mobile friendly sites and confusing analytics added to the frustration. Furthermore, tasks like calculating the exit load, or returns over a specific time period, required downloading the data to Excel, and spending another afternoon to clean it up.

All the afternoons added up - so it made more sense to just build an automated tool instead.

How it works:

SimpleMoney works by finding investment statements from your inbox. You need to just login, and all your mutual fund investments get added automatically within a few minutes.

SimpleMoney automatically updates the balances and NAVs of your funds. And anytime a new transaction is made, SimpleMoney automatically adds it to your portfolio. So anytime you login, your data is up to date.

This approach does raise valid privacy concerns, since email access is needed for SimpleMoney to work. And it is an odd way to build a portfolio tracker - but this is the only way to build a portfolio tracker that requires zero user effort

The software only reads emails connected to your investments. No email data is stored on our servers at all, and the user can easily revoke access anytime. Finally, all the data is encrypted to the standards of bank-level security.

All these details are in our privacy policy. And we've open sourced the code used to find the statements.

For me personally, SimpleMoney has turned tracking from a five hour to a five minute job. I truly believe this is the easiest possible way to track investments. And although it started as a way to solve my own problem, we have many other users who feel the same way.

What it does

We wanted to go beyond just showing balances and transactions.


We've built robust analytics like XIRRs for each fund and returns across different time periods, so that users never have to use a calculator, or Excel, to understand their portfolio's performance.

Redemptions Calculator

One feature that we're particularly proud of is the redemptions calculator, which you can use to calculate the exit load applicable for each fund.

Some of the new features we have in the pipeline are tools for preparing your capital gains taxes, and to rebalance your entire portfolio.

Who's doing it

The story behind SimpleMoney is that this is my third attempt at building a product. The first two didn't work out, although I've enjoyed both the highs and the lows of the journey. Eventually this idea popped up, and it's been smoother sailing ever since.

SimpleMoney's parent company, Prayas Analytics Inc., is backed by Y Combinator and 500 Startups. Currently based out of Chennai, but who knows where the future will be :)

So, finally:

If you've felt the frustrations of tracking your mutual funds, signup for SimpleMoney! The demo on the front page is fully interactive, play around with it!

Pranshu Maheshwari

Pranshu Maheshwari

Finance and stat nerd, Wharton alum, used to have a great handlebar moustache. And I started SimpleMoney!

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