News on Medial

Retail advisory platform Univest raises $10 Mn in Series A

Entrackr · 17d

Retail advisory platform Univest has raised $10 million in a Series A funding round led by Bertelsmann India Investments (BII). The startup had previously raised $1.5 million in a seed funding round from Trinity Media Group, Akash Anand, Deep Bajaj, and others. The fresh funds will be deployed towards accelerating its aim to democratize access to high-quality research and providing a full-stack brokerage offering, Univest said in a press release. Co-founded in 2022 by Pranit Arora, Avneet Dhamija, and Vikash Agarwal, Univest is a retail advisory platform, offering general recommendations through its SEBI-registered RA entity, Uniresearch. It provides expert trading advice across stocks, derivatives, and commodities. The platform aspires to become India's most trusted, research-first stock market super app, solving all retail investor challenges from selecting the right picks to timely exits on a single platform. “Our focus will remain on delivering seamless, personalized, and actionable insights that simplify the investment journey for our users. We look forward to leveraging this partnership to redefine the brokerage model and establish Univest as the go-to platform for retail investors in India,” said Pranit Arora, co-founder & CEO of Univest. According to the Gurugram-based company, it combines human expertise with advanced algorithms and real-time stock screening and delivers timely & reliable trading recommendations. The company offers flexible subscription plans across equity, futures, options, and commodities for 3, 6, and 12 months, and 5-year plans. Investors receive entry and exit signals from SEBI-registered analysts during live market hours, ensuring timely and accurate decision-making. Univest has been selected for the prestigious Google for Startups Accelerator Cohort 2024, recognized among the top 20 startups in India for its impactful solutions and immense growth potential. The platform claims that since inception, it has attracted over 3 million sign-ups and more than 150,000 paying subscribers, driven by an impressive success rate of 85% on profitable calls, with 60% of calls reaching their target prices. It competes with other startups in this space, such as Liquide, Waya, Tejimandi, Stoxbox, Gapup Club, and INDmoney.