Tarrakki, wealth management start-up, today announced the launch of a trailblazing solution – Elevo that will help Indian businesses to earn on the unutilized capital in their bank accounts for the very first time.
tarrakki is building India’s first non-individual investing platform which will onboard customers like startups, SMEs, MSMEs, NRIs, HUFs, proprietorships, partnership firms, minors, etc. completely online with seamless technology.
Saumya Shah, Founder, Elevo(powered by tarrakki)said, “What excites us the most is bringing ingenious solutions to the table that enable wealth creation for everyone. When we saw the potential to unlock value for wealth creation space for businesses it was a no-brainer as it’s been a white space in the wealth management domain so far. Our infrastructure is the first of its kind in India, and we hope to educate young Indian businesses on how to best optimize their idle funds and more fuel to the growth engine of India, the swelling start-up and SME sectors and of course add further impetus to corporate India’s growth too.”
He further adds, “The idea behind Elevo is to be where the new age investors are going. While the Indian wealth management industry is in the midst of significant change: a new generation of investors, whose expectations and preferences have been shaped by new technologies and by their living through the last financial crisis, have brought new standards to the industry in terms of advice and investment. However, a larger unlocked potential for wealth creation in our country still remains untapped. That of businesses exploring investment options as a form of wealth creation. There is no longer just one type of investor; and the current market is not geared to serve all types of investors. We want to cater to the investors who have never been tapped before i.e.- the non-individual investors. One of the advantages of Elevo is that it allows corporates to digitally invest into asset classes other than FDs – like Liquid and Short Term Debt Funds. India has over 63million MSMEs. Even if 70% of this pool of SMES adopts digital investment they can play a critical role in achieving the 100trillion AUM target set by AMFI.”
Tarrakki is focused on providing infrastructure for wealth management services along with creating new innovative solutions in line with their mission to enable everyone to create wealth.