WFA Global-backed ArthaYantra launches online personal finance management platform
Personal financial services company ArthaYantra Pvt Ltd, which operates under the brand ArthaYantra, has launched an online platform for consumers to build and manage their personal financial requirements. The Hyderabad-based company claims that its new platform Arthos enables users to plan, execute and manage their finances on a single platform.
Earlier this month, the firm raised an undisclosed amount in seed capital from US-based investor WFA Global Investments.
Arthos helps an individual analyse his/her financial position by mapping expenses against earnings and measuring credit worthiness and risk potential. It also helps consumers choose the right mix of financial products and services. "Middle-class people, who generally face finance crunch, will now have a platform to input their financial goals and arrive at a strategy that will help build a better financial future," said co-founder and CEO Nitin B Vyakaranam.
A free platform, Arthos also helps users prepare for any unforeseen circumstances by advising on the need for insurance. It analyses existing insurance products and suggests whether those products are suitable for one's requirements. The service is available at a premium for those who want dedicated financial advisors to help them manage their personal finance.
Founded in 2006 by a group of passouts from the Indian School of Business, Hyderabad, ArthaYantra offers retail financial services and investment management solutions to consumers. Currently a 25-strong company, it is now planning to ramp up the team and expand operations into other cities such as Chennai, Mumbai and Pune. ArthaYantra also has an affiliate office in the US.
(Edited by Sanghamitra Mandal)