What Shekhar Consultancy does

Shekhar Consultancy is a sole proprietorship based in Kolkata, India, operating as an AMFI-registered mutual fund distributor under ARN-20309, owned by proprietor Om Prakash Agrawal (EUIN: E041602). The firm distributes mutual funds, insurance, fixed deposits, tax-saving instruments (ELSS), and equity trading products to retail individual investors across India, leveraging a self-serve digital platform rather than a traditional broker-led model.

The technology stack is built around a website (shekharconsultancy.com) integrated with NSE MF and BSE for transaction processing, supplemented by the FundConnect mobile application on Android and iOS. The FundConnect app supports Aadhaar-based video KYC, online account creation, real-time portfolio tracking, and 24x7 transaction capability. Auxiliary tools include a suite of financial calculators (SIP, retirement, kids' education, kids' marriage, wealth creation, and tax saving under Section 80C), an SEBI riskometer-based scheme selector, and an online tracker portal for goal-based portfolio management. Website security is implemented via SSL encryption, though no proprietary AI, models, or developer-facing APIs are documented.

The business model is commission-only under the Indian MF industry's Model 2 framework. Shekhar Consultancy does not charge direct fees to clients, instead earning trail commissions from Asset Management Companies ranging from 0.75% to 1.5% on equity, debt, and hybrid funds and 0.10% to 0.20% on liquid funds. Distribution occurs through self-serve online channels supplemented by phone/email advisory support, with a stated minimum investment threshold as low as INR 500 via SIP. The firm has 9 employees and limited verifiable growth signals, with its ARN registration valid through 30-06-2026.

Name

Shekhar Consultancy

Legal name

Shekhar Consultancy

Website

https://shekharconsultancy.com

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Shekhar Consultancy is a Kolkata-based, AMFI-registered mutual fund distributor (ARN-20309) that serves retail investors in India via a self-serve online platform and FundConnect mobile app, distributing mutual funds, insurance, fixed deposits, and tax-saving products on a commission-only model.

Ownership category

akta.pro rank

Product category

Mutual Fund Distribution

NAICS

Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

AML/KYC, Investor Onboarding & Compliance Services (FSAAAMAE)

Keywords

• Mutual fund distribution
• Investment advisory
• Financial planning services
• Insurance distribution
• Wealth management

Headquarters

HQ city

Kolkata

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Revenue model

1. Mutual Fund Trail Commission: The company operates on a commission-based model where they earn trail commissions from mutual fund companies (AMCs). Commissions are paid from portfolio expenses charged by AMCs and range from 0.75% to 1.5% for equity, debt, and hybrid funds, and 0.10% to 0.20% for liquid funds. No fees are charged directly from clients.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Shekhar Consultancy is an AMFI-registered mutual fund distributor (ARN-20309) offering access to mutual funds across equity, debt, hybrid, and liquid categories, along with insurance, fixed deposits, and equity trading services. The firm provides a self-serve online platform and mobile app (FundConnect) for paperless onboarding, KYC verification, scheme selection based on the SEBI riskometer, and real-time portfolio tracking for retail investors in India.

Product overview

Shekhar Consultancy operates as an AMFI-registered mutual fund distributor (ARN 20309) offering a comprehensive financial services platform. The core offerings center on mutual fund distribution, insurance products, tax planning, and fixed income investments, supported by digital tools including Financial Calculators (SIP, retirement, education, marriage, wealth), a RiskOmeter for SEBI-defined risk classification, Paperless Onboarding for instant account setup, and a Safe Transaction Platform. The ecosystem includes FundConnect mobile app (iOS/Android) for real-time portfolio tracking and transactions, and an Online Tracker for goal-based investment management. All services are integrated through NSE MF infrastructure for transaction processing.

Differentiator

Problem solved

Functional benefit

Products and services

• Mutual Fund Distribution
• Insurance Services
• Tax Planning Services
• Fixed Deposit and Debt Mutual Funds
• SIP (Systematic Investment Plan)
• FundConnect Mobile App
• Online Tracker Portal
• Financial Calculator Suite

Quantifiable outcome

• Minimum investment as low as INR 500
• +2 more outcomes

Named customers6 records

Segments3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Three partnerships are on record, tiered core.

• NSE MFcoreTechnology or IntegrationNSE MF is the transaction platform through which Shekhar Consultancy processes mutual fund investment orders. The company uses NSE MF API to execute transactions and carry out investor requests.
• BSEcoreTechnology or IntegrationBSE (Bombay Stock Exchange) platform used for investor onboarding and mutual fund transaction processing. Account opening form available through BSE.
• AMFI (Association of Mutual Funds in India)coreOthersIndustry self-regulatory organization for mutual fund distributors. Shekhar Consultancy holds ARN-20309 and operates under AMFI guidelines and SEBI regulations.

Scale indicators2 records

Recent moves6 records

Expansion highlights3 records

Broad incumbents

• ICICI Direct: Large incumbent broker offering mutual funds, stocks, FDs, insurance, and loans through integrated digital and branch channels. Overlaps with Shekhar Consultancy across MF distribution, insurance, and tax planning but with national scale.
• HDFC Securities: Bank-affiliated full-service broker offering mutual fund distribution alongside equity, derivatives, and IPO services. Comparable across the MF and insurance distribution offerings within a much broader wealth management franchise.

Direct peers

• Groww: India's largest scaled direct mutual fund and equity investing platform offering self-serve onboarding, KYC, and commission-free direct plans. Directly competes with Shekhar Consultancy for retail MF investors, with vastly superior scale, brand, and proprietary technology.
• Paytm Money: Digital wealth management platform from Paytm offering mutual funds, stocks, NPS, and insurance distribution to Indian consumers. Competes for low-ticket retail investors with a powerful consumer brand and mobile-first experience.
• INDmoney: Super-mutual-fund platform aggregating MFs, stocks, FDs, insurance, and US equities for Indian retail investors. Comparable multi-product distribution model with a stronger digital and proprietary technology stack.
• Scripbox: Goal-based mutual fund advisory platform offering curated fund recommendations and financial planning for Indian retail investors. Closely comparable advisory-led model with stronger digital brand.
• Kuvera: Direct mutual fund distribution platform offering goal-based planning, free financial advisory, and direct plans to Indian retail investors. Closely comparable to Shekhar Consultancy in goal-based tools and mutual fund focus, but with significantly greater scale.
• ETMONEY: Times Group-backed financial product aggregator offering mutual funds, insurance, loans, and tax planning to Indian retail investors. Directly comparable product breadth and retail target segment.
• Zerodha Coin: Direct mutual fund platform operated by Zerodha, offering commission-free direct plans to its existing brokerage customer base. Competes for the same retail Indian investor with deep distribution leverage from Zerodha's brokerage franchise.

Regional players

• MFCentral (CAMS / KFintech portals): India's dominant Registrar and Transfer Agents (RTAs) providing the back-end investor servicing infrastructure for MF distributors including KYC, PAN, and folio management. Comparable as a distribution enablement layer in the Indian MF ecosystem.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/shekhar-consultancy

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shekhar Consultancy