About GoldenPi: Bringing Fixed-Income Investing to Indian Retail
GoldenPi is India’s first and largest online bond platform (OBP) registered under SEBI’s new regulatory framework for OBPP. It helps retail investors accessing high qualify fixed-income investment options from reputed issuers – offering corporate bonds, government securities, and state development loans, all through a seamless digital experience.
As the earliest mover in the category, GoldenPi has transformed a once-HNI-dominated investment avenue into a mainstream, tech-enabled retail offering—serving over 5000 monthly investors with average ticket sizes of ₹2 lakh.
The Challenge: Transforming Fixed-Income Into a Click-to-Invest Experience
GoldenPi’s mission to bring bonds to retail users meant solving multiple payment and compliance problems head-on:
The Checkout Bottleneck in Fixed-Income Investing
Originally, bonds were a high-ticket, manual investment—₹10L minimums, offline RTGS, and long cooling periods after adding clearing corp beneficiary account. As SEBI reduced ticket sizes to ₹10K, GoldenPi had to enable instant, intent-backed payments or risk massive drop-offs.
Without a gateway, RMs had to call every customer post-order to manually guide payments. This model capped them at just 40-60 orders/day, throttling throughput.
T+1 Settlement Demands Precision and Predictability
As a SEBI-regulated OBP, GoldenPi must settle every investor transaction with the exchange within T+1. That means: if a customer places an order today, money must be received and routed to the clearing corp by 3 PM the next day. Any delay in collection and settlement breaks the entire cycle.
Inventory Risk Without Payment Lock-In
If an investor placed an order and didn’t follow through on payment, GoldenPi still had to purchase that bond upfront—putting capital at risk. Without a payment gateway to lock funds at the moment of order, forecasting and inventory planning became nearly impossible.
The Solution: Frictionless Collection, Routing, and Scale with Razorpay
Razorpay became a foundational enabler of GoldenPi’s new-age debt investment model, stitching together compliant collections, real-time validation, and exchange settlement flows.
Razorpay PG + Smart Collect for Intent-Led Collection
GoldenPi uses Razorpay’s Payment Gateway and Smart Collect to accept payments via netbanking, UPI, and validated bank transfers. For banks that don’t support third-party netbanking, Smart Collect ensures compliance and routing clarity.
Since going live, GoldenPi scaled from 40-60 to 400–500 daily transactions—without RM calls or back-and-forth nudges.
Automated Routing to Exchange with Razorpay Route
Razorpay’s Route product handles next-day fund movement to clearing corporations. With SEBI permitting T+1 fund settlement for debt, GoldenPi uses Razorpay’s nodal to engage in direct settlements to the clearing corporation, by triggering precision-timed payouts at 11 AM the next day.
This ensures seamless compliance while enabling full-stack settlement automation—turning a formerly manual process into a self-running engine.
5× Operational Scale with Zero RM Overhead
Before Razorpay, each RM handled just 7–8 orders/day. Today, they handle none. The team now focuses entirely on assisting clients, addressing investor queries etc, and not on repetitive opts. GoldenPi estimates at least a 5× throughput increase, saving both headcount and cost while boosting accuracy.
What’s Next: SaaS Enablement and Ecosystem Scale
With Razorpay’s infrastructure proven on their B2C stack, GoldenPi has expanded into a SaaS offering for other brokers—enabling others like Axis Direct, IIFL and and Centrum Broking to replicate their model. Razorpay powers payments on this backend too.
As more brokers adopt digital debt distribution, Razorpay will be instrumental in supporting GoldenPi’s mission to deepen fixed-income access and modernize India’s investment landscape.
Interested in Razorpay’s offerings? Chat with a product expert now.
