Ashish Kashyap is back into business with IndWealth

Ashish Kashyap, founder of Ibibo is back into business with IndWealth App. IndWealth, an artificial intelligence and machine learning-based wealth management and advisory platform, will offer a slew of services to high net worth and ultra high net worth individuals. The platform has raised an estimated $30 million in seed funding from UK and Hong Kong-based hedge fund Steadview Capital, which is possibly the largest funding round raised by a homegrown startup that is still in stealth mode.

Ashish is interested in creating things from the scratch. He had created various new products, applications and platforms for customers. Ashish launched the now-wildly-popular Ibibo, back in January 2007. Prior to his current position as founder & CEO of Ibibo, Ashish set up and launched Google India's domestic operations as their Country Head, Indian Sales and Operations. Before joining Google India, Ashish was the General Manager, E-Commerce at Indiatimes.com, where he built and architected a host of innovative applications for the portal ranging from online auctions, travel & shopping.

To address the growing nees of the High Networth Individuals (HNI), IndWealth will address the wealth tech companies by helping them with investment planning, tax analytics and tax savings strategies, help manage their future cash flows and liabilities, build on proprietary technology, underpinned by artificial intelligence and machine learning.

According to Kashyap, this platform, which is expected to launch in the Google Play Store and iOS App Store in January next year, will initially target HNIs with annual incomes starting from Rs 18-20 lakh, before rolling out to a wider demographic. The company has also onboarded, what it terms, dedicated financial counsellors that will advise and work with its users. Currently, 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.

Intersection of AI and Machine learning with finance combined with the fact that managed wealth is an under-penetrated sector represents a large opportunity and IndWealth claims to be the first wealth-tech application from the company targeted at the affluent and HNI segments (across the web, Android, and iOS) and is scheduled to be launched in January, the platform claims to be ‘democratising finance for Indians’.

IndWealth is a flagship product of the parent entity Finzoom Investments, which is registered in Gurgaon. "Everyone is developing products and solutions of various sub-categories, but they all intersect. We wanted to bring all of this under one roof, which is classic wealth management practice. This will enable consumers to plan their goals for the future,”Ashish said.