I Built 3 Startups Before 30: Here’s What I Learned
By his mid-20s, Ritik Malhotra had already built and exited two successful tech companies — Streem, which was acquired in 2014, and Elph, which was acquired by Brex in 2019. After exiting these companies, Malhotra found himself with more wealth than he knew how to manage, so he sought out professional advice from traditional financial advisors. It was through his work with advisors that he found the inspiration for his next startup, Savvy Wealth, a tech-driven wealth management firm.
Malhotra founded his latest business at the age of 29 to modernize the technology used by the financial advisor industry and upgrade the client experience. Since its founding, Savvy Wealth has raised over $33 million.
While Malhotra was able to find major success as an entrepreneur at a young age, he learned some valuable lessons along the way. He spoke with GOBankingRates about the top things he’s learned as a startup founder.
Be Strategic About Who You Hire
Malhotra believes that the people you hire can make or break your success as a startup founder.
“One of the most important things I learned early on is that the quality of your team matters more than anything else,” he said. “At Y Combinator, I saw this firsthand — they invested in people before ideas, knowing that the right team could adapt to any challenge. It’s a philosophy I’ve carried into every company I’ve built.”
Stay In Tune With the Customer
No matter who your clients are, it’s vital that you stay in tune with their specific needs.
“Whether it was creating internet businesses in high school or building a financial platform at Brex, I’ve always learned by rolling up my sleeves and staying close to the customer,” Malhotra said. “Before starting Savvy Wealth, I spoke to over 100 financial advisors to deeply understand their pain points. Those conversations shaped everything we’ve built and helped us win their trust.”
Pivot as Necessary
A company should react to customer needs, so this might mean changing your initial vision.
“In my first company, we started as a cloud storage business but pivoted to serve enterprise customers when we saw an opportunity,” Malhotra said. “At Savvy Wealth, we started by solving specific pain points for financial advisors and have expanded to offer a fully integrated platform. The idea you start with is rarely the one you end with, and that’s OK.”
Take Time Off To Recharge
As a serial entrepreneur, it’s tempting to always go, go, go, but this can lead to burnout. Time off is necessary to recharge, and it can also help spark new ideas.
“After selling my second startup, I took a few months off for the first time in years,” Malhotra said. “It wasn’t long, but it was enough to give me the clarity to see what I wanted to build next. That period helped me reflect on my experience as a customer in the wealth management space and solidified the vision for Savvy Wealth.”
‍
‍
Meet
Ritik Malhotra
Ritik is Founder & CEO at Savvy Wealth. When trying to find a financial advisor that offered a tech-forward, modern experience after selling two startups in his 20s, Ritik was compelled to found Savvy when he was unable to find what he was looking for. Since then, Ritik has built an AI-driven technology platform and $700M+ AUM firm that not only simplifies advisors' day to day, but also reduces friction in client engagement.
I Built 3 Startups Before 30: Here’s What I Learned
By his mid-20s, Ritik Malhotra had already built and exited two successful tech companies — Streem, which was acquired in 2014, and Elph, which was acquired by Brex in 2019. After exiting these companies, Malhotra found himself with more wealth than he knew how to manage, so he sought out professional advice from traditional financial advisors. It was through his work with advisors that he found the inspiration for his next startup, Savvy Wealth, a tech-driven wealth management firm.
Malhotra founded his latest business at the age of 29 to modernize the technology used by the financial advisor industry and upgrade the client experience. Since its founding, Savvy Wealth has raised over $33 million.
While Malhotra was able to find major success as an entrepreneur at a young age, he learned some valuable lessons along the way. He spoke with GOBankingRates about the top things he’s learned as a startup founder.
Be Strategic About Who You Hire
Malhotra believes that the people you hire can make or break your success as a startup founder.
“One of the most important things I learned early on is that the quality of your team matters more than anything else,” he said. “At Y Combinator, I saw this firsthand — they invested in people before ideas, knowing that the right team could adapt to any challenge. It’s a philosophy I’ve carried into every company I’ve built.”
Stay In Tune With the Customer
No matter who your clients are, it’s vital that you stay in tune with their specific needs.
“Whether it was creating internet businesses in high school or building a financial platform at Brex, I’ve always learned by rolling up my sleeves and staying close to the customer,” Malhotra said. “Before starting Savvy Wealth, I spoke to over 100 financial advisors to deeply understand their pain points. Those conversations shaped everything we’ve built and helped us win their trust.”
Pivot as Necessary
A company should react to customer needs, so this might mean changing your initial vision.
“In my first company, we started as a cloud storage business but pivoted to serve enterprise customers when we saw an opportunity,” Malhotra said. “At Savvy Wealth, we started by solving specific pain points for financial advisors and have expanded to offer a fully integrated platform. The idea you start with is rarely the one you end with, and that’s OK.”
Take Time Off To Recharge
As a serial entrepreneur, it’s tempting to always go, go, go, but this can lead to burnout. Time off is necessary to recharge, and it can also help spark new ideas.
“After selling my second startup, I took a few months off for the first time in years,” Malhotra said. “It wasn’t long, but it was enough to give me the clarity to see what I wanted to build next. That period helped me reflect on my experience as a customer in the wealth management space and solidified the vision for Savvy Wealth.”
‍
‍
Meet
Ritik Malhotra
Ritik is Founder & CEO at Savvy Wealth. When trying to find a financial advisor that offered a tech-forward, modern experience after selling two startups in his 20s, Ritik was compelled to found Savvy when he was unable to find what he was looking for. Since then, Ritik has built an AI-driven technology platform and $700M+ AUM firm that not only simplifies advisors' day to day, but also reduces friction in client engagement.
