[Funding alert] Pickright Technologies raises $175K from angel investors
, a marketplace for stock market investors and advisors, on Tuesday announced that it has raised $175,000 in a seed round of funding from angel investors.
These include serial investor Sanjay Mehta-led venture capital firm 100X.VC; Vikram Pandya, Director (Fintech) at SP Jain School of Global Management; Gaurav Gupta, Chief Growth Officer of Ekstep; Vivek Srivatsav, Director of Business Solutions-Singapore; Madhavi Bollipalli, Managing Executive at Capita Insurance; Srinivas Paanem, CEO of Paanem group of investments and Satish Bogullu, CEO of Whitestone projects.
This investment will be utilised by the startup in product development, marketing and positioning the brand in the market.
“Saving smart and investing right is the need of the hour. Enabling through a digital platform and making investments a level playing field for all is what Pickright does. We are working on creating a smart intuitive platform which learns continuously on the user and creates a very dynamic and personalised investment portfolio for users. Our platform is an aggregator for RIAs and other investment platforms,” said Archana Elapavuluri, Co-founder and CEO of Pickright Technologies.
PickRight is a financial advisory market ecosystem that gives advice to investors. It creates an intelligent platform based on user personalization and matches the user to the right instruments of the investments. The startup was founded in 2019 by Archana Elapavuluri and Namandeep Bhatia, strengthened by Siddharth Panjwani joining as Co-founder and launched its first product in March 2020. Its technology team is based in Bengaluru while its strategy and sales teams are based in Mumbai.
PickRight claims that it brings to a single platform all registered advisors who are familiar with every asset class. The platform generates scorecards about advisors success in the long-term and short-term wealth creation.
Talking about the investment, Vikram Pandya Director Fintech at SP Jain School of Global Management added,
“Pickright's result-driven trusted ecosystem of SEBI registered experts and one-click trades make it easy and intuitive for Gen Y and Gen Z to enter the stock market. We believe the market will continue to see a shift of millennials towards technology driven platforms like Pickright and will scale even further.”
According to Gaurav Gupta, Chief growth officer of EkStep, “Pickright's digital trusted platform opens doors to different investment options from a single place and has the potential to bring inclusion in the investments in Tier-II and III towns by providing a transparent, trustworthy, and unbiased self-managed platform.”