Quick Summary
Botalpha Technologies Private Limited is a Noida-based SEBI Research Analyst under registration INH000013475, active since October 17 2023 and held by founder Rachit Chawla. Most users interact with Multyfi, the consumer-facing app built on this registration, offering AI-driven trade recommendations across equity, futures, options, and commodities. A second app, Validd, runs on the same registration but describes itself as an “AI investment advisor,” a category the firm does not hold a licence for. Multyfi appears as an active entity in MCA records, while Validd only appears in older filings, with no public disclosure explaining the connection between the two. Public complaints describe denied refunds and mismatched backtested accuracy, though the firm’s own SEBI disclosure shows a clean formal complaint record.
Can’t find a single clear channel or website for Botalpha Technologies Private Limited?
Instead, you land on two completely different apps, Multyfi and Validd, both claiming to sit under the same registration.
This page walks through exactly what Botalpha Technologies is, what these two brands actually are, and what to check before either one gets a rupee from you.
What Is Botalpha Technologies Private Limited?
It’s a small, private company registered in Noida, incorporated in June 2020. Nothing flashy on paper.
On paper, its job is simple. Publish research, send out trade recommendations, and do it within the boundaries of a Research Analyst licence.
In practice, almost nobody interacts with “Botalpha Technologies” directly.
They interact with Multyfi, the consumer-facing app built on top of this registration, offering subscription plans across equity, futures and options, and commodities, pitched as AI-driven, quant-based calls rather than a human analyst picking stocks.
That’s the operating model worth understanding before anything else on this page.
Is Botalpha Technologies Private Limited SEBI Registered?
Yes. Botalpha Technologies Private Limited holds Research Analyst registration INH000013475 with SEBI, active since October 17 2023, on a perpetual basis with no fixed expiry.
- Registration No.: INH000013475
- Contact Person: Rachit Chawla
- Registered Address: Basement, House No. 56, Sector 31B, Noida, Gautam Buddha Nagar, UP 201301
- Correspondence Address: 12th Floor, 9B, DLF Cyber City, Cyber Hub Phase 2, Sector 24, Gurugram, Haryana 122002
- Validity: October 17 2023, Perpetual
That’s the licence both Multyfi and Validd run on, whichever one you happen to be looking at right now.
If you’re deciding whether to subscribe, this is the first box to tick, and it’s ticked. If you’ve already paid, this number matters just as much, since it’s exactly what you’d cite if you ever needed to file a complaint. Save it somewhere you’ll actually find again later.
Who Runs Botalpha Technologies Private Limited?
Rachit Chawla is the name tied to this registration, listed as its contact person on SEBI’s own record, and publicly known as the founder behind Multyfi.
He’s the individual this entire licence traces back to.
If you ever need to hold someone accountable, whether that’s a fee dispute or a claim that didn’t hold up, this is the name behind the entity, not a support handle or a customer care queue.
Multyfi vs Validd: Same Registration, Two Different Paper Trails
Ask ten people what Botalpha Technologies actually does, and most will say one word: Multyfi.
That’s a little strange, because both apps run on the same SEBI registration, and one of them barely shows up in current company records at all.
Multyfi is the brand most people know, and to its credit, it discloses this registration correctly, right there on its own pages.
Validd is the quieter one, sitting under that same licence as a separate, parallel brand, not some retired old name nobody uses anymore.
The Paper Trail That Doesn’t Add Up
Here’s where it gets stranger. In official MCA records, Multyfi shows up as a present, active entity. Validd only turns up in older records.
There’s no public disclosure anywhere explaining a name change or a transition between the two, nothing stating one replaced the other.
What actually links them isn’t a clean paper trail. It’s a shared director, Rachit Chawla, and the fact that Validd’s own support channels quietly list a Multyfi-linked email address.
Does Validd Offer Services Outside Its Actual Licence?
Here’s the sharper problem sitting underneath all of this.
Botalpha Technologies holds a Research Analyst licence, full stop.
Validd, on the other hand, describes itself as an “AI investment advisor,” a completely different regulatory category, one it doesn’t actually hold a licence for.
A Research Analyst licence covers research and recommendations. It does not cover investment advisory or portfolio management. Those require a separate Investment Adviser registration entirely.
Put all of that together, and you get exactly the kind of setup that leaves an investor unsure which brand they’re really dealing with, what it’s licensed to actually do, and whether the entity behind the app they downloaded is even the one they think it is.
What Complaints Exist Against Botalpha Technologies?
The company’s own disclosure gives a year-by-year breakdown. Nothing in 2024-25. Four complaints received and four resolved in 2025-26, with none carried over or left pending. Nothing yet logged for the current year.
That’s a formal record, and a clean one on paper.
Public sentiment tells a slightly different story. Users are alleging issues like:
- Refunds being denied even when a subscription was barely touched, or a small amount vanished unexplained.
- Recommended entry prices and backtested accuracy not matching what actually happens in the live market.
None of these are formal SEBI complaints, and none have been independently verified beyond the platform they were posted on. But patterns like these are exactly why a registration number alone was never going to settle the legitimacy question.
How Do You Actually Check If This Firm Is Safe to Trust?
There’s no single formula that confirms legitimacy with certainty. What you can do instead is follow a set of checks that tell you when to slow down, and which steps are non-negotiable before you pay anything.
This matters more than usual here, given how much confusion exists around which brand and entity is actually active.
1. Confirm the Registration of the Entity You’re Actually Dealing With
Don’t just trust a logo or a “SEBI registered” badge on an app screen. Check the exact registration number shown, and confirm which entity it’s actually tied to, Multyfi or Validd, since they aren’t guaranteed to carry the same weight.
A badge is easy to display. A verified number on SEBI’s own site is not.
2. Don’t Trust Anyone Claiming to Be From “Botalpha” Outside Official Channels
There’s a real, serious scam case tied to a name “Bot Alpha,” which is uncomfortably close to this one. It’s a Ponzi-style forex scheme, run largely out of Dubai, investigated by the Enforcement Directorate under money-laundering law, with FIRs filed across several states.
Nothing in that case- the companies named, the individuals arrested, or the money trail- points back to Botalpha Technologies Private Limited.
If anyone reaches out claiming affiliation with “Botalpha” outside an official Multyfi or Validd channel, treat that as a red flag on its own, regardless of what they’re offering.
3. Get the Refund Policy in Writing Before You Pay
Multiple users describe refund requests being denied even within days of subscribing.
Don’t rely on a verbal promise or a general FAQ line. Ask for the exact refund terms in writing before you pay, and keep that message saved.
4. Don’t Rely on Accuracy Claims Alone
Backtested numbers and advertised accuracy rates are marketing, not a guarantee. At least one user reports live entry prices not matching what the app claims to have backtested.
Treat any accuracy percentage as a starting point to question, not a reason to skip your own research.
5. Check If the Firm Is Offering Services Outside Its Licence
If a brand under this registration is marketing itself as an advisor or fund manager, the way Validd does, that’s outside the scope of what the licence actually permits, and it’s worth asking directly why.
6. Confirm Your Total Fee Stays Under the SEBI Annual Cap
SEBI limits what a Research Analyst can charge one client family to Rs. 1,51,000 a year. Botalpha Technologies discloses that exact figure as its own cap, which is worth noting in its favour rather than against it.
Still, add up everything you’re paying across plans, not just the one you signed up for first, since a cap only protects you if you’re actually tracking your own total against it before you renew anything.
What Does a Research Analyst Licence Actually Permit?
Understanding the exact boundary of INH000013475 helps you recognise the moment either app crosses into territory it isn’t licensed for.
Permitted under a Research Analyst registration: Publishing research reports and buy, sell, or hold recommendations backed by documented analysis. Sharing views on stocks, indices, and derivatives. Charging a fixed subscription fee, capped at Rs. 1,51,000 per client family annually.
Not permitted under this registration: Managing a client’s portfolio or making trading decisions on their behalf. Describing the service as “investment advisory” or “advisor,” which requires a separate Investment Adviser licence entirely. Guaranteeing returns or promising accuracy outcomes tied to a specific figure.
This is exactly where Validd’s “AI investment advisor” positioning becomes relevant. The word “advisor” is not just branding language. Under SEBI’s framework, it signals a specific regulatory category, one this registration does not cover.
Already Paid Multyfi or Validd and Something Feels Off?
Not sure if a fee mismatch, an unlicensed claim, or a denied refund actually counts as something worth reporting? Our team reviews the specifics, tells you exactly where you stand, and helps you act on it. Register with us for a free consultation.
What Should You Do If Botalpha Technologies Breaks These Rules?
If you haven’t paid yet, you now have the two things that matter most: a real registration and a way to compare the specific brand and plan against what other users report.
If you’ve already paid and something’s off, whether it’s a fee that doesn’t add up, a claim that didn’t hold, or a response you never got, the complaint record above shows this firm does resolve formal complaints when they’re filed. That’s your opening.
Document everything before it changes. Screenshot the claim, save the payment, and note the exact date.
Put your issue to the firm in writing. A written record holds up. A phone call doesn’t.
File formally on SEBI SCORES if you’re ignored. The complete filing guide is on the SEBI SCORES complaint portal page on this site.
Escalate to SMART ODR if SCORES stalls. The full conciliation process is on the SMART ODR complaint portal page on this site.
If Validd’s advisory claims specifically caused your loss, the complaint pathway for unregistered investment advice is on the complaint against SEBI registered research analyst page on this site.
None of these steps require you to already have a lawyer or a finished case. They just require you to start now, rather than waiting until more time has passed.
Conclusion
Botalpha Technologies Private Limited’s SEBI registration checks out. It’s real and active.
What doesn’t hold together as cleanly is everything running on top of it. Two separate brands with mismatched public records, and one of them using licensing language it doesn’t actually have the paperwork for.
That gap is exactly what’s worth reading closely before either one gets a rupee from you.
The public complaints aren’t formal, but they follow a pattern worth taking seriously. If you’re about to pay, check the specific brand and plan first. If you already have, the steps above are where to start.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
Both run under the same Botalpha Technologies registration, but Multyfi appears as a current entity in MCA records while Validd only shows up in older ones, with no public explanation connecting the two.
Not under its current licence. Botalpha Technologies holds a Research Analyst registration, not an Investment Adviser licence, which is what that description would actually require.
No confirmed link exists. That case involves a separate Dubai-based forex Ponzi network investigated by the Enforcement Directorate. The name overlap appears coincidental, but it's still worth staying alert to anyone using the name to reach out to you directly.
Botalpha Technologies Private Limited holds SEBI Research Analyst registration INH000013475, active since October 17 2023 on a perpetual basis, with Rachit Chawla listed as the registered contact person.
Document the exact claim made, save your payment record, and put your concern to the firm in writing first. Since Validd's advisory positioning sits outside what a Research Analyst licence permits, this is worth raising specifically when you file on SEBI SCORES.
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