your password has been reset successfully, Please login again.

Investing platform Kuvera secures Rs.1.6 crore angel funding

Bengaluru-based mutual funds investing platform Kuvera secures Rs.1.6 crore from angel investors.
BY BEx Bureau
BusinessEx
Mar 05, 2018

Millennials and investors are investing in mutual funds from past few years. With increasing number of investments in mutual funds, startups are initiating in this space to simplify mutual fund investing procedure. One of the online mutual fund investment startup Kuvera has recently raised funding of Rs.1.6 crore from angel investors.

Angel investors who took part in the funding round include; Baskar Subramanian, co-founder of Amagi Media Laba; Saket Kumar, MD at Swank Capital; Gaurav Suri, MD at Livermore Capital and Ankit Kesarwani of New Vernon Investment Management, as per the companys statement.

Subramanian said, A good team combined with a growing fintech market in India presents a large opportunity for Kuvera in bringing online financial services to the affluent masses.

Kesarwani said, They are looking to democratise the personal finance space and it will happen only through transparency around commissions and removal of conflicts of interest and Kuvera is uniquely positioned to bring this change.

Bengaluru-based wealth management startup which is operated and owned by Arevuk Advicory Services has also raised funding before of the same amount which makes it a total of Rs.3.2 crore till date.

In October 2017, the startup was founded by Gaurav Rastogi, Mayank Sharma and Neelabh Sanyal. It allows investors to invest in mutual funds direct plans so that higher returns could be generated by avoiding third-party commission. The startup plans to use the raised funding to expand its offerings and improve its technology team.

Rastogi said, This capital will go towards deepening our offerings and to double the size of our technology team. We see opportunities to build more value-added services for our users. We have a strong user base that is strongly involved in the product development.

The startup claims to have around 15,000 users with over Rs.250 crore assets under management (AUM).

Please add your Comment
SIMILAR News
January 23, 2019
Namrata Kaul and Srinivasan Sridhar are new directors of Chennai-based company, Vivriti Capital. ...More
By Jaspreet Kaur
January 23, 2019
Owing to the change in IL & FS management’s stance, Crisil reduces NCD of IL &FS. ...More
By Jaspreet Kaur
January 22, 2019
China expects a slowdown in the FY-2019; trade war and decreasing demand need to be blamed. ...More
By Jaspreet Kaur
January 22, 2019
USB Q4 pre-tax profit leaps down by $1.038 billion; the bank envisions a slowdown in the further cou ...More
By Jaspreet Kaur
January 16, 2019
Commerce and Industry Ministry has exempted taxes on startups, who actively looking for angel invest ...More
By Jaspreet Kaur
January 10, 2019
DBS, Singapore banking group informs that the country has fallen short to attain the decided annual ...More
By Jaspreet Kaur
January 10, 2019
Honda Cars India, launched a new variant model of City, which comprises appealing features. ...More
By Jaspreet Kaur
January 02, 2019
Owing to the sluggish market in America and China, Hyundai heir decides to restructure the automobil ...More
By Jaspreet Kaur
November 20, 2018
Through this investment, BillDesk will develop new product lines for its payments and loyalty busine ...More
By Vaishnavi Gupta
November 13, 2018
The investment is made by the firm to boost its capabilities to deliver tech solutions that will hel ...More
By Vaishnavi Gupta
October 31, 2018
The funds raised will be used by Duroflex to expand to new markets across India. ...More
By Vaishnavi Gupta
October 09, 2018
The company is expecting that the AP unit will help it to strengthen its presence in the highly comp ...More
By Vaishnavi Gupta