Info-tech

AdvisoryMandi.com raises $36 million funding from Swiss-based EST Group

KR Srivats New Delhi | Updated on September 05, 2019 Published on September 05, 2019

It’s also planning to launch a new education arm to spread financial literacy.

 

AdvisoryMandi.com, an investment advisory platform, on Thursday announced that it has raised funding of $36 million from Switzerland-based EST Group.

The company has also got into a strategic business collaboration with EST Group to create a new financial ecosystem in the Indian market.

Speaking about the business collaboration, Kaushlendra Singh Sengar, Founder & CEO, AdvisoryMandi.com said: “The funds have been raised to strengthen our eco-system by integrating multiple stockbrokers, insurance brokers, asset management companies and research houses to build a multilingual investment platform starting with equity, commodity and currency asset classes”.

EST Group provides financial advisory, asset management, semi-banking operations, custodial, clearing and settlement, security issuance services. It’s a collaboration with Advisorymandi.com is in sync with the group’s business goals and expansion plans for India.

New education arm

Mahek Tomer, co-founder & COO, Advisorymandi.com, said; “To boost the saving and investment practice in India, we at advisorymandi.com 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.”

srivats.kr@thehindu.co.in

Published on September 05, 2019
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