Pickright Technologies, an AI-enabled wealth tech app today announced to have raised USD 200K in a funding round led by JITO Angel Network( JAN). Mumbai Angels and a consortium of other angels also participated in this funding round.
JITO Angel Network is India’s only community-based platform focused on new venture investing. The network today has a strong portfolio in various sectors and invested in 38+ companies and taken a few exits. They are currently invested in various sectors and are deeply looking to Invest in Space-tech and Defence companies. JITO Angel Network Invests in the company where they feel they can Leverage the JAIN Community platform for exponential Business Growth.
The funds raised now will be used for marketing, creating tech, and specifically to create awareness on the importance of investing right and early for maximum returns in a structured organized fashion.
Pickright Technologies was launched in 2019 by Namandeep Bhatia and Archana E. with an aim to position itself as “a financial assistant in your pocket.” It helps plan, manages finances, and diversify investments for millennials across direct and indirect assets with just one single click with deep personalization. Pickright is 100x.VC portfolio company
The AI/ML-based algorithm creates curated powerful diversified portfolios for every user based on user profiling while allowing them to invest what they are eligible for month-on-month across asset classes.
As Namandeep said, “We are all glaring at pension-less retirement and job uncertainty. Erosion of interest rates as inflation is growing. This is the right time for investors, young and old alike, to notice and put a step towards wealth creation. Every penny counts.”
“Our tech platform is ready and within the launching of the platform, we have early adaptors. We are working with different discount brokers and other partners on how we can partner and scale the same. With 30K users on the platform and doubling MoM, We are quite excited and ready to enjoy our journey of wealth creation,” added Archana.
Pawan Jain (GX Advisory Services Pvt Ltd) – Deal Lead, JITO Angel Network emphasized,. there exists an untapped exponential opportunity to serve this rapidly growing retail investment community, on the back of a robust digital banking ecosystem that is an enabler to grow the private wealth market AUM in India. “Pickright is a fintech platform connecting investors with authentic advisors through an unbiased AI platform. With Pickright as our portfolio company, we look forward to contributing in its growth journey and value creation for the investors,” he added.