AdvisoryMandi raises $36 million from EST Group

www.newsbarons.com

The association between Advisorymandi and EST Group is targeted towards spreading financial literacy in the country, especially in the rural areas.

AdvisoryMandi, India’s biggest online platform of innovative, technology-driven investment eco-system for investors and traders announced that it has raised funding of 36 Million Dollars from EST Group, Switzerland. The company has also got into strategic business collaboration with EST Group to create an innovative and new financial ecosystem in the Indian market.

The association between Advisorymandi and EST Group is targeted towards spreading financial literacy in the country, especially in the rural areas. The financial eco-system will resolve the problems of all participants in the industry ranging from investors and stock brokers to research houses. With an aim of providing a boost to its business, Advisorymandi will create a new breed of talented and capable investors over the next 5 years which will raise the standards and awareness within the industry, both domestically as well as, globally.

EST group has been optimistic about the financial growth of the Indian market and believes that slower markets provide new opportunities. The group provides financial advisory, asset management, semi-banking operations, custodial, clearing and settlement, security issuance services thus, collaboration with Advisorymandi.com is in sync with the group’s business goals and expansion plans for India.

Speaking about the business collaboration, Kaushlendra Singh Sengar, Founder & CEO, Advisoeymandi said “It has been seen that despite the 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 the rural areas has been very low. 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.”

“The funds are raised to strengthen our 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” he added.

Expressing his views on this collaboration, Dr. Sindhu Bhaskar, Founder & Chairman, EST Group, said “At EST, we firmly believe that India’s largest asset is its intelligent and educated Human Capital and it’s important to use this resource extensively by allowing them to innovate in a problem area with the provision of access to required capital. We believe in the vision and faith of an organization or it’s founder, the finance industry is not just about having a big idea, it is about the insights, knowledge and pragmatic vision of the team. Considering this; we chose to collaborate with Advisorymandi”.

Expressing her views on the market scenario and business developments, Mahek Tomer, Co-founder & COO, Advisorymandi, said “To boost the saving and investment practice in India, we at advisorymandi are also going to launch a new education arm with a vision to spread financial literacy especially in rural areas, schools and colleges to create a new breed of smart investors. We believe that this should be a compulsory subject in schools as money management is equally important to earning money.”

According to Sajid Jamal, the head of the Venture Fund of EST Group, “Capital is not scarce, but is scattered and EST’s vision is to aggregate unused capital by investing in technology and then use AI, Voice command technology to disburse capital to SMEs, startups and agri-verticals.”

EST Group provides financial advisory, asset management, semi-banking operations, custodial, clearing and settlement and security issuance services. Its new fintech arm, recently established in London, is concerned with investing in existing disruptive platforms in financial markets, banking operations and wealth management using AI, Machine Learning and Blockchain technology.