Wealth management platform Nivesh raises $1.6m led by Indian Angel Network

Photo: Reuters

Wealth management platform, Nivesh, on Tuesday said it has raised $1.6 million, led by Indian Angel Network (IAN) Fund. The round also saw participation from other angel investors including LV Angel Fund.

According to the company, the freshly infused capital will be utilised for expansion of its product portfolio, specifically towards introducing newer insurance and credit products. The company is also expected to use the funding towards technology enhancement by bringing in automation and user personalization.

Five-year-old Nivesh is a technology platform that allows mutual fund distributors to list and distribute their financial products to consumers in a digital-first manner. Apart from mutual funds, the platform also allows distributors to list other products, including corporate fixed deposits and insurance.

This enables distributors to expand their business and bring in new clients, who can now be serviced for different asset management companies, the company said.

“We are looking at making Nivesh a full-stack platform taking care of all financial needs of our customers. So, we will continue to integrate all possible products towards that end. The aim is to increase the penetration of financial products such as mutual funds, corporate FDs, insurance, etc., in tier- and above cities. We, at Nivesh, follow a hybrid model of digital-first approach with human connect to reach people in every corner of the country,” said Anurag Garg, founder and chief executive officer, Nivesh.

The company also added that it will look to scale its employee count, post this fundraise.

“As a digital-first platform, Nivesh’s pursuit is to solve the problem of low penetration of financial products in India. The company has adopted a unique tech-human approach as it offers cutting-edge technology-enabled solutions while providing an exceptional customer experience. But what excited us most is Anurag’s ability to lead the company to build a high growth, digital platform catering to all financial needs of customers right across the country,” said Padmaja Ruparel, founding partner of IAN Fund.

The company has previously been funded by LV Angel Fund, Next Billion Fund managed by Windrose Capital, and other marquee angel investors.

The article was first published on livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.