The startup will use the funds to increase the employee strength to 100+ and expand operations pan India. Besides, the corpus will also be used in technology to simplify the KYC and investment process, WealthBucket said in a statement.
The startup also plans to enable insurance and investment in stocks via their platform.
WealthBucket, founded in 2018 by Himanshu Jain and Pulkit Jain, seeks to provide a platform that connects the customers looking to invest in mutual funds. The platform provides the option to invest in equity mutual funds, large-cap schemes, small-cap funds, liquid funds, etc.
The startup claims to have around 300,000 visitors already, and has processed around 50,000 transactions till date. If further claims to have generated investments worth Rs150 crore.
INDIA DEAL MONITOR
Here are some of the venture capital transactions in India from December 25, 2019-January 2, 2020.