Stockbroking advisor, Advisorymandi.com, raised $36 million in the first funding round from the EST Group, a financial conglomerate. Advisorymandi, headquartered in Noida, plans to make use of the funds to beef up the ecosystem by integrating multiple stockbrokers, insurance brokers, asset management companies, and research houses to create a multilingual investment platform starting with equity, commodity, and currency assets classes.
A strong startup with an established audience
Advisorymandi was founded in 2015 by Kaushlendra Singh Sengar. It is a technology-based platform in the investing space with more than 260+ SEBI Registered Analyst where they showcase their analytical & research skills.
The startup aims at building a single-window multi-asset investment platform where the users can be guided through the process of selecting the correct investment product in accordance with the risk appetite of the user and the expected return on investment. The hassle is highly simplified by an unparalleled framework through which a user with even a small amount can gain confidence and start investing in building an empire for the future. According to the company website, it has more than 5 millions satisfied users and more than 2 million website followers.
The founder said:
“There is a huge gap in the investing environment in India with no proper system where a retail investor/trader can analyze the performance and decide about services of the analyst/advisor. It is very difficult for them to choose and connect with the right advisor at the right time, among so many advisory companies available. We simplify the process of selecting the analyst by creating an unparalleled framework where the unbiased and transparent continuous past performance of the analyst can be viewed along with automated ranking and rating based on their accuracy and followers. The path of investment then becomes easy if the right resource is available according to particular needs and requirement,”
Advisorymandi is all set to change the face of the Indian stock market advisory industry. Zerodha, a Bangalore based company, is one of the significant competition for the firm. Some of the Indian banks offering stockbroking services are Kotak, ICICI, and HDFC. Looking at the positive side, Sengar said, “Our strongest differentiation is that our brand became the most sought after when we launched PAC (pro advisory championship) powered by CNBC Awaaz, and got over 50 lakh viewership. We also provide powerful tools and features to advisors and stockbrokers to assist them in making the right forecast and generating accurate tips for investors. Accuracy gets rewarded, and the ratings of the advisors grow thereby.”