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New Delhi-based BankSathi Technologies has raised $2,00,000 in seed funding round from a group of angel investors, including Tread founder Dinesh Godara, which will be used for mainly product development.
Freshokartz Founder Rajendra Lora and Studybase Founders Anuj Ahuja and Aditya Talwar, among others also participated in this round.
Jitendra Dhaka, Founder and CEO at Banksathi Technologies said, “The funds will be used for product development, team building, and executing marketing and growth plan. We currently have over 5000 advisors across 700 pincodes in India; with a total advisor income of 75 lakh earned till now, and 45 products of 15 financial institute in our bucket”.
“We are targeting to distribute 1 million advisors and 150 products of 50 financial institutes through BankSathi App by the end of this financial year. And in the next three years, the plan is to create 5 million advisors and 500 products of 100 financial institutes on our platform. We would be raising another round of investment by the middle of this year to achieve our set goals,” he added.
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