Goal-based investing app Elever secures pre-seed funding of $750,000
Elever, a goal-based investing app that aims to help people achieve lifestyle goals, has raised $750,000 from a clutch of 19 angel investors, including Massimo Vita, executive director, Asia Impact SG; Udaya Kumar, managing director and chief executive, CreditAccess Grameen; and Seetharaman Babu, regional engineering director in a multinational, according to a press release.
Anshul Sharan, co-founder and chief executive, Elever, said, "We strongly believe that every person, irrespective of 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. The funds raised will help validate product-market fit and build our team. We are lucky to have investors who believe in our vision and also have a long-term perspective."
"I have invested in Elever for two main reasons. First, Elever's purpose and vision 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," said Massimo Vita.
The Bangalore-based startup was founded by Anshul Sharan, Ram Subramaniam, and Santosh Aiyar, and aims to level the playing field for managing money and achieving lifestyle goals.
Elever is a goal-based investing app, personalised to elevate customers' financial health and help achieve financial goals. Elever does it through a unique investing process called "Systematic Lifestyle Planning," which recommends, manages, and tracks tailor-made diversified portfolios to achieve customers' financial goals. Elever is powered by an artificial intelligence-driven platform that uses more than 6 million data points over 15 years to marry customers' present financial situation with their future goals, as per the press release.