INDwealth raises $15 Mn round led by Tiger Global
The start-up INDwealth has raked in a $15 million funding round led by Tiger Global Management. With the infusion of fresh proceeds, the company is planning to build out its technology, AI, R&D, the advisory team, along with investing in innovative customer acquisition and marketing programs. Kuvera.in, Expowealth and Kristal.AI are counted as the major competitors of INDwealth.
Previously, INDwealth had raised $30 million in a seed round from Steadview Capital in October 2018.
Led by Ashish Kashyap, former Group CEO of Ibibo group, the startup is an Artificial Intelligence and Machine learning-based wealth management platform for HNI families that enables a one-stop solution for them to organize and manage their investments, loans & taxes.
The company had launched its first application in January 2019, which is available on iOS, Android and Web. IndWealth, which is a flagship product of the parent entity Finzoom Investments, also launched a Wealth Advisor web application thus, creating communication and feedback loops between the customers and advisors.
INDwealth is a SEBI registered advisory platform and have partnered with BSE (Bombay Stock Exchange) to offer secure and reliable transactions. The company is also in the process of building a team of certified finance counsellors across India that will be dedicated to each user family.