If you’ve come across Waya Financial Technologies, maybe through stock recommendations, F&O calls, or smallcase portfolios, you’re probably wondering one thing: is this platform properly regulated and safe to deal with?
That’s a smart question. In today’s market, where advisory platforms are everywhere and bold performance claims are common, checking regulatory status is not optional; it’s essential.
SEBI registration, complaint history, and enforcement records tell you far more than marketing promises ever will.
So instead of assumptions, let’s look at facts.
In this blog, we’ll verify whether Waya Financial Technologies is SEBI registered, check if any regulatory orders have been issued against it, review publicly available complaint disclosures, and explain when investors should report a research analyst.
Waya Financial Technologies Review
When you first search for Waya Financial Technologies, one thing you may notice is that there are two websites associated with the name:
- thewaya.com
- thewaya.smallcase.com
At first glance, that can feel confusing. Are these two different companies?
Or the same entity operating in different ways?
Here’s what’s happening.
Waya Financial Technologies operates its main corporate and advisory services through its official website, where it offers equity research, F&O recommendations, and portfolio management services.
This is where you’ll find its regulatory disclosures, compliance details, and service descriptions.
The second website is its presence on the Smallcase platform. Smallcase is a separate investment platform that allows SEBI-registered research analysts and portfolio managers to create curated stock baskets.
Waya appears there as a registered manager offering investment strategies through the Smallcase infrastructure.
So, the two websites do not indicate two different companies. Instead, they reflect two distribution channels: one direct (through their own website) and one through a third-party platform.
Is Waya Financial Technologies SEBI Registered?
This is the first checkpoint every investor should look at.
Before trusting any research calls or portfolio strategy, it’s important to verify whether the entity is registered with the Securities and Exchange Board of India.
SEBI registration means the company is authorised to provide advisory or portfolio management services under regulatory supervision.
According to SEBI’s official intermediary database, Waya Financial Technologies Private Limited holds a valid Research Analyst registration.
The registration number displayed is INH000010876, and the validity shows as Perpetual. In simple terms, “Perpetual” means the registration does not expire unless it is suspended, cancelled, or surrendered by SEBI.
There is no indication of suspension in the registry.
In addition to being a Research Analyst, the company is also registered as a Portfolio Manager.
The PMS registration number INP000008987 also reflects Perpetual validity status. This means the company is authorised to offer portfolio management services, subject to SEBI’s compliance framework.
It’s important to understand what this actually means and what it does not mean.
SEBI registration confirms regulatory authorisation. It does not guarantee profits, success rates, or risk-free returns.
It simply indicates that the entity is operating under SEBI’s regulatory structure and is required to follow compliance, reporting, and disclosure norms.
Waya Financial Technologies Complaints
After verifying registration status, the next logical step is to check whether the regulator has taken any action.
A review of the official orders database of the Securities and Exchange Board of India does not show any adverse orders against Waya Financial Technologies Private Limited.
There are no publicly listed suspension orders, penalties, or registration cancellations.
This means that, as per publicly available SEBI records, no enforcement action has been recorded.
However, regulatory status is only one part of the picture. User experience is another.
The company’s advisory app is available on the App Store, but the rating currently stands at approximately 2.1 out of 5, which reflects mixed customer feedback.
One publicly visible review dated July 4, 2025, highlights dissatisfaction with customer service.
The reviewer stated that after purchasing a quarterly options subscription, access allegedly stopped within three days, prompting them to purchase again despite having an active plan.
The review also mentions difficulty in reaching support and a lack of response through the provided email channel.
It is important to clarify that app store reviews represent individual user experiences and are not regulatory findings. A low rating does not automatically indicate a violation of SEBI regulations.
However, recurring complaints about access issues or support responsiveness can be factors investors may want to consider before subscribing.
So while no SEBI enforcement order appears in public records, prospective users should evaluate both regulatory standing and user feedback before making a decision.
When Should You Report a Research Analyst?
Not every bad trade or loss is a violation. Markets are volatile, and even registered research analysts can be wrong.
But there is a difference between market risk and regulatory misconduct.
You should consider reporting a Research Analyst if you experience situations such as:
- Promises of guaranteed or fixed returns
- Pressure to upgrade packages with unrealistic profit claims
- Misleading performance screenshots without proper disclaimers
- Unauthorised trading in your account
- Refusal to provide mandatory disclosures
- Ignoring written complaints without any grievance resolution process
- Charging fees without providing agreed services
SEBI regulations require registered Research Analysts to follow strict disclosure, compliance, and grievance redressal norms.
If those standards are not being met, investors have the right to escalate the matter.
How to Report a Complaint Against SEBI Registered RA?
If something feels wrong, don’t ignore it. But don’t panic either. There’s a proper process, and following it step by step makes a big difference.
Step 1: Raise the issue directly with the company
Start simple. Write to the company’s official support or compliance email.
Explain clearly:
- What happened
- When it happened
- What resolution you expect
Keep everything in writing. Avoid phone-only conversations. Emails create a record.
Every SEBI-registered Research Analyst is required to have a grievance redressal mechanism. Give them a reasonable time to respond before escalating.
Step 2: Escalate the complaint through SEBI’s SCORES platform
If you don’t receive a proper response, you can file a complaint through the official portal of the Securities and Exchange Board of India called SCORES (SEBI Complaints Redress System).
You will need to:
- Register as an investor
- Select the correct intermediary category (Research Analyst or Portfolio Manager)
- Enter details of your complaint
- Upload supporting documents
Once submitted, SEBI forwards the complaint to the concerned entity and monitors the response timeline.
Step 3: Keep your documentation strong
This is where most investors make mistakes. They complain emotionally, but without proof.
Before filing, collect:
- Payment receipts
- Subscription confirmations
- Emails or chat records
- Screenshots of claims or app issues
- A clear written summary of events
Clear documentation increases the seriousness of your complaint.
If you’re unsure whether your situation qualifies as a regulatory issue, it’s better to understand your options before filing blindly.
Need Help?
Not sure whether your issue is a regulatory violation or just a market loss? That confusion is common.
We help investors understand their options, organise their evidence, and take the right next steps.
If you’re facing unresolved service issues or believe there has been non-compliance, you can register with us.
We’ll help you in:
- Reviewing your situation
- Structuring your documents properly
- Guiding you in drafting and filing a complaint, if required
- Tracking SEBI complaint status
Clear documentation and the right approach make all the difference.
Conclusion
Waya Financial Technologies holds active SEBI registrations as both a Research Analyst and a Portfolio Manager.
There are no publicly available SEBI enforcement orders against the company at the time of writing.
However, app ratings and some customer reviews indicate mixed service experiences.
SEBI registration confirms regulatory authorisation, not guaranteed returns. Investors should always verify credentials, review disclosures, and assess risk before subscribing to any advisory service.
In investing, informed decisions matter more than marketing claims.
