Bharosa Club, a SEBI authorized Registered Investment Advisor (RIA), today announced the completion of a bridge financing round for an undisclosed amount from the management team and individuals. This round will be used to reach its near term goals of 10,000 members and Rs. 1,000 crores assets under advice. The company is in talks with investment banks to represent Bharosa Club in raising a series "A" round of Rs. 15+ crores by the end of the financial year. Bharosa Club intends to use this investment to enhance its product offering, expand its network and reach a 1 million member milestone.
Bharosa Club is an online robo-advisory platform started by ex-PayPal Founding Team Member Sanjay Bhargava. Bharosa Club aims to replace bad, commission-based selling with honest, unbiased, transparent and affordable financial advice and execution and has started its offerings with Mutual Funds. It’s perhaps one of the only Investment Advisory company which has an open-to-public algorithm, helping investors identify good performing Mutual Funds.
Within just 5 months of becoming an RIA, the company has Assets under Advisory of over Rs. 100 crores with over 2,700 members. “For years advisors and agents have put commissions first and customers second. Sub-optimal advice on asset allocation has not only led to a lost opportunity in wealth creation for investors, but has also made investors wary of their advisors. What attracts investors to Bharosa are right asset allocation, tested and unbiased advice on fund selection, an easy to use interface and commission free investing,” says Sanjay Bhargava, Chairman, Bharosa Club.
Bharosa is actively targeting customers across the spectrum. It is working with the mutual fund industry to increase penetration from low single digits to high double digits by getting new users to try mutual funds. To this end, the company is also in talks with several institutions for Financial Wellness Programs for their respective constituents.
On the other hand, the company is also in the final stages of developing a product specifically for HNIs and serious mutual fund investors. “We want to show our impact through numbers”, adds Bhargava. “In our testing phase, in some cases we have created an alpha of over 20% over a 3 year back tested period. While this will vary from investor to investor; the impact that great advice can have on large portfolios can be tremendous.”
Keeping the above in mind, Bharosa has 3 pricing plans. ‘Basic’ – which is free for 1st time investors, ‘Premium’ – a paid plan for regular MF investors and ‘Pro’ for serious MF investors. In future, the company is also looking to get savings for its premium and pro members by negotiating group insurance starting with term life.
Image : Sanjay Bhargava, Chairman, Bharosa Club
Bharosa Club is an online robo-advisory platform started by ex-PayPal Founding Team Member Sanjay Bhargava. Bharosa Club aims to replace bad, commission-based selling with honest, unbiased, transparent and affordable financial advice and execution and has started its offerings with Mutual Funds. It’s perhaps one of the only Investment Advisory company which has an open-to-public algorithm, helping investors identify good performing Mutual Funds.
Within just 5 months of becoming an RIA, the company has Assets under Advisory of over Rs. 100 crores with over 2,700 members. “For years advisors and agents have put commissions first and customers second. Sub-optimal advice on asset allocation has not only led to a lost opportunity in wealth creation for investors, but has also made investors wary of their advisors. What attracts investors to Bharosa are right asset allocation, tested and unbiased advice on fund selection, an easy to use interface and commission free investing,” says Sanjay Bhargava, Chairman, Bharosa Club.
Bharosa is actively targeting customers across the spectrum. It is working with the mutual fund industry to increase penetration from low single digits to high double digits by getting new users to try mutual funds. To this end, the company is also in talks with several institutions for Financial Wellness Programs for their respective constituents.
On the other hand, the company is also in the final stages of developing a product specifically for HNIs and serious mutual fund investors. “We want to show our impact through numbers”, adds Bhargava. “In our testing phase, in some cases we have created an alpha of over 20% over a 3 year back tested period. While this will vary from investor to investor; the impact that great advice can have on large portfolios can be tremendous.”
Keeping the above in mind, Bharosa has 3 pricing plans. ‘Basic’ – which is free for 1st time investors, ‘Premium’ – a paid plan for regular MF investors and ‘Pro’ for serious MF investors. In future, the company is also looking to get savings for its premium and pro members by negotiating group insurance starting with term life.
Image : Sanjay Bhargava, Chairman, Bharosa Club
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