According to GroupM INCA’s India Influencer Marketing Report, the Indian influencer market is expected to grow at a compound annual growth rate (CAGR) of 25 per cent till 2025 to reach a size of INR 2,200 crore. This goes on to prove the kind of reach and impact influencers have on GenZ and millennials. So, besides capital, this reach can help startups immensely. For instance, for Wint Wealth, the idea was to make more people aware of the alternative investment opportunities by leveraging the reach of fintech influencers.
“Social media influencers are great at starting conversations and raising awareness. This is something that contributes greatly to the growth of a startup, as when a well-known figure invests in a startup and becomes the face of that brand, it helps the startup to leverage its image, credibility and the vast network of followers and strong connections, thereby making the startup more marketable – which ultimately helps in boosting sales and raising funds,” said Gala.
Additionally, the stories of these creators are also inspirational for startup founders. “A lot of new-age startups understand and appreciate how digital influencers have created a brand for themselves and are operating self-sustained businesses solely on the back of their talent and passion. Their inspiring journeys have encouraged startups looking for strategic advisors to approach creators for funding to bring in substantial value beyond capital,” said Sinha.
Interestingly, the business model of most of these companies revolves around creators such as their investors. But influencers are also looking at the broader consumer tech investment opportunity. “We are already seeing influencers investing in different tech-backed companies such as Wint Wealth, smallcase, and SahiCoin. As influencers become active investors, they are bound to work with financial advisors or follow their passions to diversify their investments to an array of startups that are making a real difference in their space. Potentially, we will see more influencers investing in an assortment of startups,” said Sinha.