Financial markets service provider EST Group invested $36m in Advisorymandi, the India-based operator of an online marketplace for investment services, yesterday.
Founded in 2015, Advisorymandi runs an online platform where users can access registered financial analysists and advisers in order to secure advice. It also provides stock market details, financial reports and links to financial news stories.
The company plans to put the funding into building a unified mobile app for its offering. It also intends to launch an education subsidiary in bid to help expand financial literacy in India, with rural areas a particular focus.
Kaushlendra Singh Sengar, founder and CEO of Advisorymandi, said: “The company will utilise this funding to strengthen its ecosystem through integrating multiple stockbrokers, insurance brokers, asset management companies, and research houses to build a multilingual investment platform.”
Advisorymandi had not disclosed any previous funding.
