Tuesday, 25 May 2021

Mumbai Angels Network, JITO Angel Network, and other angel investors invest USD 200K in Pickright Technologies

The freshly infused funds will be directed towards enhanced marketing efforts, designing new tech, and creating awareness on the significance of investing right and early to secure maximum returns.

May 25, 2021Mumbai Angels Network, a premium startup investment platform for early-stage venture investments, along with JITO Angel Network, and other eminent angel investors, has invested USD 200K in Pickright Technologies, an AI-enabled app to plan and manage finances and diversify investments for millennials across direct and indirect assets.

A wealth-tech platform for digitally native masses, the Pickright app enables users to organize finances by intelligently saving and investing smartly across asset classes with AI and ML-powered deep personalization. Founded by Archana Elapavuluri and Namandeep Bhatia, Pickright Technologies has curated, powerful, and diversified portfolios for every user based on user profiling and allows them to invest according to their eligibility month-on-month across asset classes using AI and ML, thereby being a financial assistant in your pocket. The freshly infused funds will be utilized for enhancing the platform’s marketing, designing new tech, and most importantly, to create awareness on the importance of investing right and early to avail maximum returns in an organized manner.

Speaking on the new capital infusion, Archana Elapavuluri, Co-Founder and CEO of Pickright Technologies said, “The world is going through an extremely challenging time with rampant uncertainty, and we are staring into a pension-less future with the erosion of interest rates and growing inflation. This is the right time for people, young and old, to take a step towards wealth creation. Every penny counts.”

Commenting on the investment, Nandini Mansinghka, Co-Promoter, and CEO of Mumbai Angels Network said, “Wealth creation, especially for today’s millennials, is integral to ensure they have financial backing amidst this uncertainty looming over the world and for their post-retirement. Pickright Technologies has been committed to help enhance their assets and investments and we believe that our collective investment will help the platform scale-up and cater to more customers. This capital infusion is a testament to Pickright’s expertise in the wealth creation area and its constant innovation through tech-driven methods.”
“I am delighted to be associated with Pickright Technologies’ growth story. I strongly believe in their proposition as an AI-enabled app offering curated, diversified portfolios across asset classes with single-click execution. Pickright is the ideal solution for digital native users to assist with micro saving, planning, and investing right”, added Arun Thukral, the deal lead for the funding round.

Pickright is currently working with different discount brokers and other partners to partner and scale the same. The platform is currently clocking 30,000 users on the platform doubling month-on-month.

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