Abhisek Puglia, Founding Team, GoalTeller

Goal Teller is an AI–backed online personal finance platform that allows users to plan, simulate, guide, monitor and track all their financial goals from cradle to grave. The objective is to ensure a 360 degree financial planning for users.

Oct 26, 2021 01:10 IST India Infoline News Service

In an interaction with Shweta Papriwal, Editor, indiainfoline.com, Mr Abhisek Puglia, Founding Team, GoalTeller said "GoalTeller is a comprehensive platform and it takes care of users' investments, goals (lifestyle), and the family’s future."

Give us an overview of your products and services.

GoalTeller is an automated goal-based planning platform for individuals to secure their financial future. GoalTeller takes care of investments, lifestyle goals, and the security of the family. It creates a complete financial plan keeping all goals in mind and suggests investment opportunities keeping the risk profile and tenor of the goal. Additionally, the plan takes care of the insurance needs (term and health) and succession planning for the family’s security. It caters to everyone from a young first-time earner to ones who are already on the journey of wealth creation.

Your brand has been offering custom financial plans for its customers. How are you powering the growth of this segment?
We did a few rounds of closed user group testing and had immense learnings. Users want full guidance on their financial plans and they prefer a platform where advice, execution, and a single view of entire finances are available. We are building a platform that has all of these. We understood that users appreciate that an advisor who is charging them fees is far cheaper than banks or wealth managers who earn commissions.

So, an advisor like GoalTeller is free of conflicts! These learnings are what we are incorporating in our launch plan and we hope what we experienced in the CUG will be visible post our public launch too! We believe our dynamic and adaptable, conflict-free advisory model is what users need.

What are your Key USPs which stand you apart from the companies operating in this space?

While there are many, I would want to focus on a few of them. GoalTeller is a comprehensive platform and it takes care of users' investments, goals (lifestyle), and the family’s future. The pandemic has made lots of people realize how important terms & health insurances and succession plans are for the family’s secure future.

Secondly, and if I could say, more importantly, GoalTeller's advice via prompts & notifications would be all-encompassing. The depth to which we have gone and will continue to explore ensures that the advice to each and every user is very specific, personalized, and relevant. This also ensures that the disciplined needed to achieve a plan gets imbibed in the users over time.

Finally, our GoalLineTM helps users visualize their full financial future and make amends as needed. The feedback of users in the CUG was very encouraging to this aspect of our product.

Artificial Intelligence is driving the finance sector of India towards a paradigm shift. What are the measures taken by your brand to boost this drive?

We are taking one step at a time. The algorithms for the advice on investments, goals, and financial security are already in place. However, as we have more users, learning from them would boost the algorithms significantly. Most of the things needed for good financial planning are very basic & fundamental and we have ensured we got those right in the first step.

How did the pandemic impact your business?

Things that we thought won’t happen easily seem like a cakewalk now. Our entire product has been developed remotely. Our team members worked from all across the country – Bangalore, Raipur, Mumbai to remote places in Bihar, Uttar Pradesh & Haryana. Now we are voluntarily going to an office.

However, the pandemic has been a watershed moment for investors as apart from the usual pouring of funds into equities, the other paradigm change that is being witnessed is the digitization of investments wherein increasingly all asset classes instruments are now available for investing, redeeming, or exiting, advise at few clicks of a button. This has been the biggest positive for our business.

For Goal Teller, where do you see growth coming from in 2021?

GoalTeller is primarily bootstrapped but we did raise a small pre-seed round from marquee investors like Rainmatter (Zerodha), Dr. Ranjan Pai, Kunal Shah, Raghunandan Gangappa amongst others. So, growth will come not from spending or cash burn. We intend to launch GoalTeller in the last quarter of 2021 and capitalize on a few strategic partnerships that we have entered into to have a sizeable user base. Some of our investors have been generous in helping us in this endeavor.

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