Wealth management startup Tarrakki announced a strategic partnership with investment platform Smallcase on Thursday, July 22, to offer long-term equity portfolio to users. The partnership will allow investors to consider a well-diversified basket of stocks - carefully chosen with a multi-cap and multi-sector strategy, according to a statement shared by the SEBI registered investment advisor. The startup's collaboration with the Bangalore-based financial technology company is likely to provide diversified investment options to customers.
“Tarrakki has simplified and modernised the way to investment by giving an alternate option for investing directly in a customised model portfolio. This partnership with smallcase will help investors to intelligently invest in a diversified basket of stocks which will lower the risks present in investing in a single company or a stock. The smallcase integration makes equity investments for the investors simpler by extending the pool of investment options any user has,'' said Mr. Saumya Shah, Founder, Tarrakki.
So far, Tarrakki has cumulatively raised $225,000 in funding and caters to tier-I, tier-II, and tier-III cities across the country. The key markets include West Bengal, Maharashtra, Delhi, and Gujarat. The platform offers more than 3,500 mutual funds from 42 asset management companies.
“Smallcase is on a mission to change how India invests by partnering with investors, advisors, brokers and other market participants who are open to game-changing innovation. Partnering with a comprehensive wealth management platform like tarrakki is in line with this mission and will encourage Indians to invest more smartly by providing an extensive range of investment options that are qualitative and unique,'' said Vasanth Kamath, Founder & CEO, Smallcase Technologies Private Limited.
Founded in 2018, the startup - Tarrakki is a comprehensive wealth management platform that is designed to make investment simple and hassle-free, especially for first-time investors. The new-age technology used by the personal finance platform allows its users to make regular, calculated investments in mutual funds as well as peer-to-peer lending, based upon the individual's goals, and other factors such as age group, income, and risk appetite.
The startup also provides solutions to consumers and corporates, so that the MSMEs can efficiently manage their working capital requirement and surplus cash, according to its statement.