Sankarsh | Savart | Start Up | The IndianPreneur
Savart is an online-offline wealth manager that helps people take smart, uncompromising investment decisions whether they are investing $1 or a million dollars. The investment research is driven by a unique combination of human intuition and machine computing to provide customized portfolios comprising stocks and mutual funds. The platform mimics a financial adviser to ensure that every advice is highly relevant and accurate to the customer. While the urban mobile and web application is sophisticated and appeals to the young generation seeking to save, invest even 10 rupees. Contrarily, the rural platform drives personal engagement and doorstep investment services to rural and sub-urban masses helping them to build trust in the financial institutions, introduce them to the concept of investments.
The company currently manages INR 8 crores in Mutual Fund investments and has several retail & high net-worth domestic & institutional clients with over INR 88 crores in investments. The company has been awarded as the most customer-centric and design-led company by TiECon last year. The company is also working with several government and private agencies to help spread about the ‘investment network’ concept of the company which means that people would have multiple channels of investment including doorstep personnel service, online investment or through the unique ATM-style ‘Automated Investment Machine’ of the company which is being set up at select locations throughout the country.
The Founder
Sankarsh, 19, is the CEO & Founder of Savart. Having started investing at the age of 14, he has worked with clients from UK, USA, Netherlands and India to create investment strategies and take critical decisions. He published his book – Financial Nirvana in 2016, which is a beginner’s book to understand stock markets. He is also a certified Research Analyst.
The Founder has shared his vision for the world and Savart in his TEDx talk at NMIMS Bangalore: https://www.youtube.com/watch?v=BrPt4FfF0oc
Links
Website: https://savart.in/
Facebook: https://www.facebook.com/savart.in/
1.What gets you out of bed in the morning?
The excitement of making sales, talking to customers and the simple idea of not knowingwhat interesting things will come up during the day.
2.Why should people choose your product/service?
We strive to make sure that we make the most informed and thoroughly informed decisions whether the customer is able to see it or not, because we are using technology, people, processes and passion to create wealth for everybody. This includes those wanting to invest a 100 rupees or a million.
3.What inspired you to start Savart?
The excitement of creating wealth for others, getting them to experience financial freedom and watch them live their passions in life.
4.How much capital do you have and when do we expect cash flow break even?
We have raised capital of over $100000 so far and will raise around 20x that amount shortly. We expect to break-even by the end of next fiscal year.
5.Who are the biggest competitors and how are they doing? If there are no competitors, why?
In the conventional space, Motilal Oswal and Angel Broking are some of the biggest competitors and in the online-only space, the likes of Scripbox, fundsindia & Wealthy are our competitors. We are comfortable calling them colleagues rather than competitors because the potential and market is so huge that competition hardly affects each other.
6.What comes first for you money or emotions?
Everybody would say emotions when asked this question. We too believe emotions and aspirations are more important, but I would rather let our product and culture do the talking.
7.Where do you see yourself in 5 years?
We have some very, very interesting products coming up that can help transform lives in ways people have never imagined. We believe that investments, when harnessed well, have the power to fulfill dreams and help people live better lives. So, in 5 years we have plans to launch a few equity investment related products that are going to encourage mass participation in the equity investment space and hep everybody be a part of the country’s growth. We also intend to be a reasonably profitable and listed company by then.
8. I would not do anything differently. It is great as it is.
I would not do anything differently. It is great as it is.
9.If you sold your company today, what would be the tone of the conversation? What would you want to gain? What would you want to avoid losing?
We would never sell our company except in case of unforeseeable circumstances which we have already listed down internally. I would want to maintain substantial control of the company until it achieves the end goal that it began with and would not want to lose the culture of the organization at all.
10.What advice would you give to someone starting out?
In the entrepreneurial journey, passion, persistence and determination are constantly tested. It is important to stay confident and stand by the vision, but it is imperative to be open to learn and incorporate something new each day.
