Goal Teller- Providing Financial Planning Tools For Investors

From capital markets to insurance and digital banking to wealth management, financial services, have been transformed by new technologies. India’s adoption rate for fintech products stands at 59%, which is the second-highest pace worldwide. Fintech has been a transformative force in the Indian market with digital payments, lending, and investments.

India’s fintech segment has expanded by leaps and bounds, and the data around this industry points to a strong growth potential going forward. Fintech startups have transformed commerce and payments in many ways in the Indian market. One such is Goal Teller: a financial planning startup, allowing users to build their own financial plan.

Goal Teller- Company Highlights

Company Name Goal Teller
Founder Vivek Banka
Sector Fintech
Founding Year 2020
Website Link goalteller.com
Registered Entity Name Finteller Advisors Pvt Ltd.

Goal Teller- About and How it Works
Goal Teller- Founder
Goal Teller- Name, Logo and Tagline
Goal Teller- Vision and Mission
Goal Teller- Target Market Size
Goal Teller- Products/ Services
Goal Teller- Business and Revenue Model
Goal Teller- Startup Launch
Goal Teller- Challenges
Goal Teller- Future Plans

Goal Teller- About and How it Works

Goal Teller is a financial planning platform that allows users to build their own financial plans. A combination of cutting edge technology that guides the users at every step of their journey, during, and even after their lifetime. Goalteller is a fintech startup in the investment planning space. The company is in the process of building a highly dynamic platform for making financial decisions more informed and planned. The company is operating in the B2C space. The company will be adopting a mobile-first approach.


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Fintech [/tag/fintech-startup/] [/tag/fintech/], which is short for financial technology, has become a crucial part of the world. In the old days, all the financial work was done through the paperwork only, as it was considered as the safest mode. But with the development of technology, internet is …

The country’s adoption rate for fintech products stands at 59%, the second-highest pace worldwide, and significantly higher than the global average of 33%, as per analysis by DataLabs by Inc42.
Goal Teller | How it Works
Goal Teller | How it Works

Goal Teller- Founder

Goal Teller is founded by Vivek Banka.

Goal Teller Founder | Vivek Banka
Goal Teller Founder | Vivek Banka

Vivek has done B.com (Hons) at St. Xaviers School. He has been Senior Vice President at IIFL Wealth Management Ltd. for nearly 6 Years. In a career spanning over two decades and across financial services firms, Vivek truly has seen it all. His last venture Altiore Capital was acquired by IIFL Wealth in Nov 2018 ( which had a proprietary net worth management platform focused on analytics and data visualization). Vivek is an avid tennis player, loves to read and play online video games in his spare time apart from spending time with his family.

Goal Teller | Udit Garg: Founding Member and Senior Product Analyst
Goal Teller | Udit Garg: Founding Member and Senior Product Analyst 

Udit Garg is Founding Member and Senior Product Analyst at Goalteller. He has completed Chartered Accountancy, Chartered Financial Analyst (level 2) and B.com(Hons) from Hansraj College. For his interest in the field of Investment and Finance, he is pursuing CFA. After accumulating a total experience of about 5 years in EY in the Direct Taxation Department, Udit has joined GoalTeller. Apart from work, he generally spends his time reading, gaming, and stock trading.


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The founding team was gathered through a combination of a network of his friends, and online hiring portals. The idea of the product, the opportunity of being part of a founding team of an exciting startup and equity in the business is what possibly convinced a lot of them to join the Goal Teller team. There’s a diverse background of individuals from the technology, finance, taxation, analytics, and design.

Goal Teller- Name, Logo and Tagline

Goal Teller | Logo
Goal Teller | Logo

Vivek’s own experience as an individual and especially the not so evolved ones, which form a majority, are themselves devoid of guidance on what their financial and life goals should be and a lot of their assumptions around these goals are misplaced. The idea behind the platform and the name is, that the platform will act as a coach and guide to users by telling them and helping them suggest/ create/modify, and hence Goal Teller.


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Goal Teller- Vision and Mission

Goal Teller’s vision is to ensure that their users are able to get an automated financial plan that considers all possible aspects of their finances, taxation, cash flows, goals or be it their emotional intelligence.

Goal Teller- Target Market Size

Goal Teller looks forward to a market size of around 10 Million individuals which is calculated as a combination of:

  • A subset of individuals filing taxes in India,
  • Salaried individuals in the mass affluent segment.

The industry (financial planning) today is largely dominated by traditional wealth management companies, banks, and few fintech players. Most of these institutions focus on execution rather than planning and advisory. Also, the large presence of a human element in this process could create biases that result in inefficiencies in the advice/financial plan.


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The company believes that over the next 5 years there would be much more technological advances and hence the model which would emerge best in most likelihood is a hybrid plan that combines the power of technology and human instinct.

Goal Teller- Products/ Services

Goal Teller | Platforms
Goal Teller | Platforms

Their process began with the user filling in a set of questions, for instance, about himself/ his family/ investments/ expenses and income and specific goals. Based on the aforesaid variables, the platform will be allowing the user to simulate various situations, especially if some goals aren’t getting met, and will also suggest potentially optimal solutions keeping in mind various aspects like taxes, cash flows, etc.


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Goal Teller- Business and Revenue Model

Goalteller will be soon working on a freemium model where users will have access to certain features, that too free of cost, while the comprehensive offering will be on an annual fee basis.

Goal Teller- Startup Launch

Having seen the industry for over two decades, the fact that human biases needed to be eradicated while making a financial plan. Because, it seemed like a problem statement that needed attention and unfortunately most other fintech players were focused on creating execution platforms, and hence the urge for creating Goal Teller.

Speaking to a few friends/colleagues and older clients, what they observed was that all expressed a lot of excitement on a platform that would help them create a financial plan with the guidance of technology. A plan that is suitable to them keeping in mind all possible aspects and finally also helps them simulate life situations.


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Goal Teller- Challenges

One of the biggest challenges for Goal Teller was to stitch together a team that shared the same passion and zeal towards the vision of the firm. Thankfully, the network and patience incorporated by the team helped them to manage a team that is really enviable and passionate towards the common cause.


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Goal Teller- Future Plans

Currently, they are targeting traffic of around 0.5 – 1 million unique visitors on the website by December 2021 out of which they aim to convert around 5,000 users as paid subscribers.

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About Avantika Bhardwaj

  • New Delhi, India
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