[YS Exclusive] Investment app Elever raises pre-seed round of $750K from angel investors
The funds raised will be used to build its product, team expansion, and validate product-market fit.
Monday February 07, 2022,
2 min Read
Goal-based investing appon Monday has raised funds of $750,000 from a group of 19 angel investors, including Massimo Vita (Executive Director - Asia Impact SG), Udaya Kumar (MD and CEO – CreditAccess Grameen), and Seetharaman Babu (Regional Engineering Director in a Multinational OEM in Automation Industry).
Founded by Anshul Sharan, Ram Subramaniam, and Santosh R, Bengaluru-based Elever is a personalised investing app that is helping customers elevate their financial health and achieve their financial goals.
Elever does it through its AI-driven unique investing platform called "Systematic Lifestyle Planning," which recommends, manages, and tracks tailor-made diversified portfolios to achieve customers' financial goals.
Currently, its app is in the invite-only mode with 300+ customers.
Commenting on the fundraise, Anshul Sharan, Co-founder and CEO, Elever, said,
"We strongly believe that every person – irrespective of their financial status and understanding – has the right to improve their lifestyle by investing and achieving their goals. However, the majority of the people in India, especially non-HNIs, do not get the right, unbiased, and affordable service. We are bringing an artificial intelligence-driven platform to bridge this gap in a simple and affordable manner."
He added that the funds raised will help the startup validate product-market fit and build its team.
"I have invested in Elever for two main reasons. First, Elever's purpose and vision are to make it simple and affordable to invest directly in market securities for non-HNIs is very inspiring and makes a great business case. Second, I have a strong trust and deep respect for Anshul, one of the promoters, as a person and as a professional, having collaborated with him for many years. I am sure that promoters, thanks to their experience and skills, will be able to make their vision come to life, so impacting the lives of millions!" added Massimo Vita, Executive Director, Asia Impact SG.
Edited by Kanishk Singh