Savart - Invest in Stocks and Mutual Funds Profitably

Savart Highlights

Startup name Savart
Headquarter Hyderabad
Founder Sankarsh Chanda
Sector Investment Management
Founded 2017
Registered Entity Name Svobodha Infinity Pvt.Ltd

Savart - Introduction
Savart - Industry Details
Savart - Founder
Savart - The Idea and Starting up
Savart - Name,Tagline and Logo
Savart - Services
Savart - Business and Revenue Model
Savart - Customer Acquisition
Savart - Funding
Savart - Challenges
Savart - Competitors
Savart - Achievements
Savart - Awards
Savart - Partners
Savart - Advisors and Mentors
Savart - Future Plans

Savart - Introduction

Everyone likes to make money and get rich. But it is never possible to become rich simply by earning more money. The main trick behind getting rich is wealth management. As Dave Ramsey rightly says - money moves from those who do not manage it to those who do. However, money management is not so simple. It requires knowledge, observation and expertise. Savart, a Hyderabad based fintech startup by Sankarsh Chanda is here to simplify investment management for you by combining computing accuracy with the best of human intelligence. Thus making investment safe & easy with Savart.

The company strives to provide uncompromising advice & research to individuals and institutions irrespective of their quantum of investment. Savart holds the vision to become an end-to-end investment services’ company helping people realize their dreams & passion!

Savart - Industry Details

The asset management industry in India is one of the fastest growing industries in the world. Corporate investors AUM (Asset Under Management) stood at US$ 127.65 billion, while HNWIs (High Net Worth Individual) and retail investors reached US$ 99.05 billion and US$ 82.03 billion, respectively in December 2018. In the Asia-Pacific, India is among the top five countries in terms of HNWIs.

Wealth management industry is likely to grow at 10-15% in the next five years.

Relevant Read: What Revfin is Doing to Bring Financial Inclusion in Tier-2 and Tier-3 cities

Savart - Founder

Sankarsh Chanda is the founder and CEO of Savart. Sankarsh founded savart in 2017 when he was only 18 years old. Sankarsh is a certified Research Analyst, Investor, Author & Fund manager.

The other core members of Savart are-

  • Aditya Ranade (Chief Investment Officer) - Aditya worked with companies like RBS & Morgan Stanley prior to joining Savart.
  • Sridhar Vetapalem (Chief Financial Expert) - Shridhar has 15+ years of fund management expertise  
  • Taruni Chandrasekhar (CFO) - She is a Chartered Accountant and Chartered Financial Analyst.
  • Pavan Kumar Kotamurthy (Research Analyst –Head) - He is Registered Investment Adviser, Research Analyst, MFD & ED certified and worked with NISM prior to joining Savart.
  • Prakash Raju (Rural Operations Head) - He has 20+ years of expertise in rural marketing

Savart - The Idea and Starting Up

The Idea came to Sankarsh when Sankarsh was only 14 years old. He read an article on“value investing” by Benjamin Graham. Value Investing stressed the importance of picking stocks trading for less than their intrinsic value as they offered a profit opportunity. Sankarsh found the idea of value investing interesting and wanted to experiment around it. He finally convinced his elder sister and started trading through her Demat account. He started with just Rs 2000, that he got as a scholarship and soon he saw results. His bets did pay off. Sankarsh continued studying market trends thoroughly and even balance sheets of different companies to increase his knowledge base.

It was never an idea to startup or set up a company. It was a simple idea to give investment advice, build investment strategies and invest; over time, the idea of doing this at a scale and combining my philanthropic interests gave birth to Savart. - Sankarsh

Sankarsh started freelancing and drawing investment strategies for individual clients when he was just 16 years old. At the age of 17, he published his first book Financial Nirvana. Meanwhile, Sankarsh joined B.Tech course in Bennett University, Greater Noida. Ajay Batra, Director at the Center of Innovation and Entrepreneurship at the university gave Sankarsh the confidence to startup. Sankarsh invested the money he earned through various investments for founding Savart. As said by Sankarsh, before starting Savart, he interviewed about 400 people from diverse economic backgrounds to understand customer requirements better.

Savart stands for ‘The Art of Savings’.

The reason we give importance to saving in our name is because it is the fundamental requirement before beginning to invest. And we believe it sounds good too.

The tagline of Savart isInvest Well. Live Better. The tagline is a reflection of Savart’s commitment to helping people ‘live’ better and not just help make quick bucks in the market. The company’s aim is to help people realize their dreams & passion! Savart came up with the current logo after some iterations. It wanted to keep it simple and elegant. The circle inside the letter ‘t’ denotes ‘one-stop solution’ & ‘simplicity’.

Savart Logo

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Savart - Services

Savart simplifies investing in mutual funds, stocks and bonds online and offline. Savart is an online and offline wealth manager. Savart combines machine accuracy and human intelligence to help its customer invest in stocks and mutual funds in a profitable way. The company has a research team that does paper-based analysis, meets the management of listed companies, talks to dealers, suppliers and customers to find out the strength of companies and takes investment decisions accordingly.

On signing in, Savart prompts the users to fill an EFG (Emotional Financial General) form. After the EFG analysis, Savart suggests suitable investment options for the user, based on his needs and expectations. The user can also manually research and invest in instruments without taking guidance. Besides, there is also an option for the users to choose the goal and Savarat shows combinations of mutual fund, SIP and STP plans for achieving these goals. Savart app is available for both android and ios and also on the web.

Savart has also introduced many interesting features in the app. One such feature is ‘round-up’. Through this feature, Savart stacks up its customers savings with loose change from every transaction and on the accumulation of a certain amount, it is invested into ETFs

Savart - Business and Revenue Model

Savart’s services range from financial planning to investment advice & goal planning. Savart's revenue model is simple, for the services provided, customers are charged as per the following plans

  • For Investments between zero to 4,00,000, Rs.1299/- Per Annum is charged
  • For Investments of INR. 4,00,000 , 0.5%(upfront fee)+ 3% of pre-tax net profits(performance fee)

The company charges 1-2% commission for mutual fund investment.

Savart - Customer Acquisition

Savart’s initial set of customers came from their families and business connects who came through referrals. Constant communication with clients, keeping them in the know of things, regular feedback collection & constant improvements to their online platforms are certain steps that Savart takes to retain customers and ensure customer satisfaction.

Savart - Funding

We have raised funding once in the past and are raising currently too (70% of the ask has been committed). The experience has been thrilling, to say the least, but has come with a lot of learning as well.

Savart has raised a total of $100K in funding over 1 round. This was a Pre-Seed round raised on May 6, 2018.

Date Stage Amount Investor
May 2018 Pre-seed $100K Undisclosed

Savart - Challenges

Investing in people and finding the right talent has been a pain. Savart has skilled up several individuals to suit their job profiles and then help them grow thereafter. As said by Sankarsh, like in every startup, Savart also has downtime when the team needs some extra motivation. However, the one thing that guides team Savart is the customer first mindset.

During our meetings, we have an empty chair and assume our customer is there, watching us work. This makes sure that we don’t get distracted or demotivated.

Happy customers keep team Savart motivated. The company always celebrates its small milestones like feature release, team member induction and positive customer feedback to keep the employees in good spirit. However, as said by Sankarsh, the aim to reach out to people and help them invest and make money is his personal motivation booster.

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Savart - Competitors

There are many fintech startups that are dealing with stock, share and mutual funds investment like Groww, Smallcase and Sqrrl.

As said by Sankarsh, Savart is inspired by companies like Zerodha in terms of their reach & services, by the likes of Oaktree capital management in terms of their investment research and quality of the team, services. However, Savart differentiates itself in terms of their deep-tech research, customer experience & the niche customer segments that they are targeting.  

Savart - Achievements

  • Savart sold mutual funds worth Rs 3.5 crore and stocks worth Rs 2 crore just within one month of launching its online platform.
  • The company is managing an AUM of around 100 crores.
  • Featured as one of the most promising fintech startups in the world by Burnmark, London.

Savart - Awards

Savart has received the following awards

  • SMC Startup pitch Award – Mumbai 2018
  • T20 Starpreneuer of the Year – Mumbai
  • Delhi - NCR TiECoN’s QGLUE Design Entrepreneur of the Year  

Savart - Partners

Savart has partnered with Bombay Stock Exchange for mutual funds. It is also licensed as Registered Investment Advisor by SEBI. Savart is not a broker. So, it has partnered with Mumbai based discount broking firm Upstox for final transactions. Savart is looking forward to partnerships with some other digital brokers. The startup is also partnering with banking correspondents to enhance its offline presence.

Relevant Read: MoneyFront - For Paperless, Simplified and Automated Investment

Savart - Advisors and Mentors

According to Sankarsh, a mentor is the one who adds direction and motivation to the business, offers continuous constructive criticism and helps build the right culture for the organization. Savart is being mentored by the following expert team -

Ajay Batra - Mentor & Business Adviser, Director Bennett Hatchery, ex-Citibank. It was Mr. Batra who gave Sankarsh the confidence and support to start up and is mentoring Savart since day one.

Sandeep Kataria - Head Marketing Ex-Marketing Head, Voonik & CureFit

Hemkumar Vajjha - Chief Technology Adviser MD, Impetus Solutions  

Venkat - Development Head - Tech Impetus Solutions, 25+ years of tech expertise

Savart - Future Plans

Savart is all ready for expansion and growth. Savart's major future plans include-

  • Opening offline stores.
  • Install automated investment machine. This machine will be set up as an offline kiosks and users will be able to make investments using a debit card or cheque.
  • Making the Savart platform available in local languages like Hindi, Telugu and Gujarati.
Website - Savart
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About Chayanika Goswami

Chayanika is an MBA in Finance and a trained Digital Marketer. SEO and content writing are her hobbies turned profession. She is a rover. In her free time she loves travelling and cracking jokes.