Your browser is currently blocking notification.
Please follow this instruction to subscribe:
X
Notifications are already enabled.
X

Online Investment Advisory Platform Goalwise Raises $1 Mn in Angel Funding

Online Investment Advisory Platform Goalwise Raises $1 Mn in Angel Funding

Bangalore-based online investment advisory platform Goalwise has recently closed an angel funding of $1 Mn (INR 6.8 Cr) from undisclosed high net-worth individuals.

Goalwise was started by Swapnil Bhaskar, Ankur Choudhary and Savitri Bobde, as a goal-based investment platform, in 2015. The startup aims to simplify personal finance and investing according to their financial goals, while preventing mis-selling. The startup is registered as Alphafront Finserv Pvt Ltd with the Association of Mutual Funds in India (AMFI) as AMFI Registered Mutual Fund Advisor (ARMFA).

Dexter Capital was the adviser to Goalwise for this round.

Ankur Choudhary, Chief Investment Officer of Goalwise, explains, “Investing is like exercising – everyone wants to do it, but no one follows through. One has to set goals and systematically work towards them, and investing in goals will give better results than ad-hoc investments. But at the same time it should be simple to do and Goalwise does exactly this.

How Does It Work?

  • It allows users to choose the goals for which they are saving or investing.
  • After the goal has been chosen, Goalwise offers best suited advice considering age, savings, suitable risk profile, target amount and time horizon for the it to give a systematic goal plan.
  • Goalwise runs on its self-designed algorithms for investment advisory, mutual fund selection, as well as a goal tracking technology called GoalSense.
  • It creates an investment plan for each goal, intelligently allocating savings according to the user’s risk level, invests in scientifically chosen, consistently performing Mutual Funds and tracks the investments till the user achieves the goal, right till the end

Edit GoalThe startup focuses on tax-saving goals. Its portfolio recommends choosing from Mutual Fund companies, such as Franklin Templeton, ICICI Prudential, Birla Sun Life and Axis Mutual Fund. It plans to use the newly raised capital to scale up technology and operations efforts.


Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.


Author

Team Inc42

Inc42 Staff

Inc42 Media is a digital media startup known for its end-to-end coverage of the Indian Startup Ecosystem. Inc42 has published 13,000+ stories so far and touch the lives of over 10 million people every month. Join us and be the part of the startup revolution.

Responses
https://inc42.com/flash-feed/cleartax-sequoia-capital-founders-fund/
Loading Next…

Upcoming Events