Total amount raised
$2.1 Millions
Latest funding date
09/01/2022
Location
Savart has successfully raised funds through multiple rounds, with its most recent being a Seed round on September 22, 2022. The company is backed by nine investors, including BEENEXT and 100Unicorns.
Keep reading to explore the intricacies of Savart's fundraising journey and the investors backing this innovative wealth management platform.
What Is savart?
Founded on May 16, 2017, Savart is a wealth management platform headquartered in Hyderabad, India. The company specializes in investment advisory services, leveraging advanced AI technology to assist clients in investing in stocks, mutual funds, gold, and bonds.
With a team of 51-100 employees, Savart is led by founder Sankarsh C. The company serves a global clientele, offering personalized portfolios and continuous portfolio monitoring to ensure long-term and consistent returns.
How Much Funding Has savart Raised?
- Pre-Seed Round
- Amount Raised: $100K
- Date: May 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial growth and development.
- Seed Round
- Amount Raised: ₹40.9M (approximately $549K)
- Date: November 2021
- Lead Investors: BEENEXT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Expansion and product development.
- Seed Round
- Amount Raised: $1.5M
- Date: September 2022
- Lead Investors: 100Unicorns, Venture Catalysts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Marketing, product development, and expansion into new territories.
Total Amount Raised: $2.149M
Current Valuation: Not publicly disclosed
Key Investors
- 100Unicorns
- Details: 100Unicorns is a startup accelerator and venture capital firm. They focus on nurturing early-stage startups through funding and mentorship.
- Investment Focus Areas: Early-stage startups, technology, innovation.
- Notable Investments: Not publicly disclosed.
- Venture Catalysts
- Details: Venture Catalysts is an early-stage investment firm. They provide funding and support to startups in their initial growth phases.
- Investment Focus Areas: Technology, innovation, early-stage startups.
- Notable Investments: Not publicly disclosed.
- BEENEXT
- Details: BEENEXT is a venture capital firm focusing on early-stage technology startups. They aim to support innovative companies with high growth potential.
- Investment Focus Areas: Technology, early-stage startups, innovation.
- Notable Investments: Not publicly disclosed.
- Yatra Angel Network
- Details: Yatra Angel Network is an angel investment network. They invest in early-stage startups, providing both capital and strategic guidance.
- Investment Focus Areas: Technology, innovation, early-stage startups.
- Notable Investments: Not publicly disclosed.
- Jitendra Gupta
- Details: Jitendra Gupta is an individual investor, likely an entrepreneur or industry expert. He has invested in various startups, including Savart.
- Investment Focus Areas: Technology, financial services, early-stage startups.
- Notable Investments: Not publicly disclosed.
What's Next for savart?
With a vision to grow its assets under advisory to $1 billion by the end of 2023, Savart is poised for significant expansion. The company plans to leverage its recent funding for marketing, product development, and entering new territories. This ambitious growth target reflects the increasing demand for customized investment portfolios and the use of psychometric analysis in investment decisions.
As Savart continues to scale, future fundraising rounds may be on the horizon to support its expansion goals. However, the company will need to navigate challenges such as competition from established wealth tech firms and ensuring the scalability of its technology. Despite these hurdles, Savart's innovative approach positions it well for future success in the wealth management industry.
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