Advisorymandi, a technology-driven platform, that solves advisory challenges in the stock market industry, has bagged $36 million (approx INR 250 crore) from EST Group.
The platform will use the funds to strengthen its eco-system by integrating multiple stock brokers, insurance brokers, asset management companies and research houses to build a multilingual investment platform starting with Equity, Commodity and Currency assets classes.
The platform stated, “Investment in stock market requires in-depth research and expertise and retail investors find it very difficult to find the right information and resource at the right time and in absence of this feature they lose their wealth and faith in the stock market.
Sindhu Bhaskar, Founder and Chairman of EST Group, said that according to EST, India’s largest asset is its intelligent and educated human capital, and it was important to use this resource extensively by allowing them to innovate in a problem area with the provision of access to required capital.
While, Kaushlendra Singh Sengar, Founder and CEO, Advisorymandi said that it had been seen that despite rising rural income and education, access to roads and electricity, and the outstanding growth in the financial introduction, the rate of investments in the securities markets from rural areas was very low.
Advisorymandi was founded by Kaushlendra Singh Sengar in 2015. The platform was made to solve advisory challenges in the stock market industry.
The company claims that it has more than 260 SEBI-registered analysts on its platform where they showcase their analytical and skills to solve the advisory gap in the market.
“The rural households face countless constraints to immune themselves against risks by assembling assets. Lack of awareness on financial securities and savings instruments makes it difficult for them to acquire their risk capital,” Sengar added.
Moreover, AdvisoryMandi said it had also got into strategic business collaboration with EST Group to create an innovative and new financial ecosystem in the Indian market, and would focus on spreading financial literacy in the country, especially in rural areas.