Savart intends to use these funds to develop its AI-based investment-research algorithm Vantage, fuel expansion into Canada, grow its client base and general corporate purposes.
Savart, the world’s fastest-growing investment advisory and technology brand, announced it raised nearly INR 4.09 crore ($549,000) from BEENEXT, a Singapore-based founder-first venture capital firm, Yatra Angel Network (YAN) and Jupiter neobank founder Jitendra Gupta. BEENEXT infused INR 3 crore into Savart, while YAN invested INR 84 lakhs and Gupta INR 25 lakhs.
Savart presently has the backing of top Indian investors such as Ajay Batra, Executive Vice-President – Venture Fastrack, Wadhwani Foundation and Narayan Shadagopan,
who between them have funded and mentored numerous startups in various industries.
Savart intends to use these funds to develop its AI-based investment-research algorithm Vantage, fuel expansion into Canada, grow its client base and general corporate purposes.
“We are excited to join hands with BEENEXT and YAN in our endeavor to redefine the investor experience,” said Hiren Chandaria, CEO – Savart.
“This funding is a big milestone in our journey to being a leading institutional wealth manager. It will strengthen our business and accelerate the deployment of our products, allowing us to create a larger impact on the vast Indian demographic that we cater to. For our users, this means more personalization, better choices, and an improved investor experience in the future.”
Hero Choudhary, Managing Partner – BEENEXT, said, “We are excited to partner with Sankarsh and team as they work to make investments smarter and help people create long-term wealth. The time is ripe for technological innovations across financial services. We are confident that Savart will help bring in financial inclusivity across markets through its innovative products.”
Source: Business World
