Tarraki, an Ahmedabad-based wealth management App, launched by Fintech startup Plutonomic Savtech Pvt. Ltd. Aims to make the world of financial investment easy and accessible even for those who have never tried it before. The app has informative and engaging tutorials and blogs that familiarize the aspiring investors on how to make their wealth grow without investing in mutual funds only.
The Founder Saumya Shah mixed up his passions for business and investment and came up with this wealth-tech application realising the need of hand-holding experience for the beginners in the investment world. The platform provides a calculated investment experience in mutual funds, gives equity advisory, peer-to-peer lending and digital gold services in a hassle-free manner. It aims to help people invest smartly by providing them with various investment options alongside unbiased advice regarding the same. It also helps the masses to keep a tab on their investments and provide them with advice and ways to enhance their individual portfolios.
Tarraki, Helping Indian Masses in The Path of ‘Tarraki’
The major chunk of Indian population is covered by the middle-class, general people who are not well versed with the entire process of investments. With the Tarraki app, the entire process of investment is hassle-free and paperless. The app is built in a straightforward way and in the layman’s language which is simple enough that even a first-timer can use it smoothly. Because of this seamless experience and investment options for as low as Rs. 100, the app is engaging the general masses to participate in investment. What makes the app more interesting is that it provides a subscription-based investment advisory package for mutual funds and equities with plans starting at just Rs 275 a month. It earns most of its revenue from the equity advisory offering. Tarraki’s stack incorporates different products that help it to democratize putting resources into India. The platform offers few knowledgeable contents for the customers to go through the investment world, like:
- Tarraki Zyaada: In association with Reliance Nippon Life Asset Management, it enables the investors, without locking in their money, safely depositing it in Reliance Liquid Mutual Fund with higher return values than their normal saving bank accounts and Fixed Deposits. It provides Investment options as low as Rs 100. The major benefit of this product is that it lets people keep their money invested with some liquidity in emergency cases.
- Tarraki Mutual Fund Assistance: Providing recommendations and advice as to when and where to invest their money to get better returns. It also sends the investors information about the mutual funds selling rates.
- Equity Advisory: This product provides the subscribers with the information as to when, what and how much to buy or sell including well-researched individual model portfolios for personal tracking of their investments.
- Peer-to-Peer Lending: In order to let users diversify their investment offerings, Tarraki offers its customers to invest in P2P lending.
The major chunk of Indian population is covered by the middle-class, general people who are not well versed with the entire process of investments. With the Tarraki app, the entire process of investment is hassle-free and paperless.
The Growth Factor of Tarraki
Indians have the tendency to leave their money untouched in the bank accounts and fixed deposits that don’t provide much profit. Tarraki provides novice and seasoned investors with a hassle-free and transparent investing process with the use of technology. With the recent Series A Funding round, the startup is planning to grow internationally as well.
What’s in it for Wealth Management Tech Start-ups
As the investing landscape in India is highly lucrative, the wealth-tech market is expected to grow three times by the fiscal year 2025. India, with more than four million wealth-tech investors in FY20, could raise the bar and make it to 12 million investors by FY25, with a three times growth rate in just five years. The market for all the wealth-tech startups like Zerodha, Groww, Paytm Money, Upstox, etc is very promising as the financial investment sector is targeting millennials and enriching them regarding the same. The wealth management tech start-ups with all the technology helps it to be more efficient and closer to the clients. These platforms give the investors the opportunity to avoid unwanted channels of communication which reduce the cost of brokerage and provide seamless subscription-based services.