Savart raises $1.5 million in pre-Series A funding round
Tech-based investment advisory platform Savart has raised $1.5 million in a pre-Series A funding round. The funding round was led by 9Unicorns and Venture Catalysts’ Angel Fund. Several existing investors and other angel investors also participated in the funding round.
The Hyderabad-based Savart was founded by Sankarsh back in 2017 when he was just 18 years old. He is a certified Research Analyst and fund manager.
On the funding, Sankarsh said, “We are pleased to receive the investment from 9Unicorns, VCATS, our existing investors, and angels. We are glad to have the faith of investors who believe that Savart’s journey to becoming India’s largest investment advisor is just one step in our journey to be the world’s largest & impactful asset management business.”
Savart is an interesting platform that aims to simplify investment management. The platform uses machine learning and human analysis to suggest suitable investment options to users based on their needs. Users can select the investment goals and the platform suggests them a combination of mutual funds and SIPs for achieving the goal. You get investment advice for stocks, mutual funds, Gold, and Bonds.
Savart also offers mobile apps available for both Android and iOS. Savart has simple pricing for customers based on their investments. Users can start with as little as Rs. 1000 to check the platform. The platform already boasts more than 1 Lakh users from more than 20 countries.
The company aims to grow its assets under advisory (AUM) to USD 1 Billion by the end of 2023.