Investing well is equivalent to having a goal in mind and investing systematically towards it. There are people with goals like buying a house, going on a world tour but don’t have the time or expertise to come up with the best plan to achieve it. To solve this problem Goalwise was created which is your intelligent investment manager.
As per the latest information on the startup, Bangalore-based online investment advisory platform Goalwise has recently closed an angel funding of $1 million (INR 6.8 Cr) from undisclosed high net-worth individuals.
Goalwise was started by Swapnil Bhaskar, Ankur Choudhary and Savitri Bobde, as a goal-based investment platform, in 2015. The startup aims to simplify personal finance and investing according to their financial goals, while preventing mis-selling. The startup is registered as Alphafront Finserv Pvt Ltd with the Association of Mutual Funds in India (AMFI) as AMFI Registered Mutual Fund Advisor (ARMFA).
Research shows investing without goals and a systematic plan is bound to fail. Goalwise has a rigorous, technical engine delivers highly customized guidance for both. They create a personalised investment plan for all your goals. This plan is based on the financial goal you have and how much risk you prefer. This plan includes selection of the best Mutual Funds, asset allocation over time (equity and debt) and a goal path. You can invest in this plan through Goalwise to reach your goals.
Their team consists of IIT Alumni who have spent several years in the investing industry solving problems in investing and personal finance through tech and analytics. Their Chief Investment Officer Ankur Choudhary has years of experience in algorithmic investing and portfolio management. He has also co-developed a statistical model, Criconomics which predicted World Cup 2015 with 80% accuracy. Swapnil, who is the CEO of Goalwise has been a part of one of India’s biggest banks and has a deep interest and expertise in personal finance management and planning. Given a choice between being the biggest and being the most trusted, they would always choose the latter.
While speaking about the development Ankur mentioned,
“Investing is like exercising – everyone wants to do it, but no one follows through. One has to set goals and systematically work towards them, and investing in goals will give better results than ad-hoc investments. But at the same time it should be simple to do and Goalwise does exactly this.”
The startup focuses on tax-saving goals. Its portfolio recommends choosing from Mutual Fund companies, such as Franklin Templeton, ICICI Prudential, Birla Sun Life and Axis Mutual Fund. It plans to use the newly raised capital to scale up technology and operations efforts.