Silicon Valley-based fintech co: Vested Finance raises $12M in Series A round of finding via Ayon Capital
- ByStartupStory | April 6, 2022
Vested Finance, the California-headquartered online investment platform said it has raised $12 million in a Series A funding round led by Ayon Capital.
Alongside existing investors such as Tenoneten, IPV, Ovo Fund, Wedbush Ventures, and Upscale and investors such as 9Unicorns, Dhruvil Sanghvi, Ankur Warikoo, and Saumil Parekh participated in the round.
In order to scale its team globally, expand its product suite, and launch more products in the cross-border space, the startup plans to use the funds.
Vested was started in August 2018 by Viram Shah, Darwin Arifin from Indonesia, and Yinghan Lin from Singapore, in US equities it allows Indians to make commission-free investments, and also undertake fractional investing.
The company said in 2021 it has processed more than $250 million in transactions, and in 2021 it tripled the deposits on the platform.
“Viram, Co-founder and CEO of the startup said that the location where they are born today determines the kind of wealth creation opportunities they get access to and that is unfair. Most of their portfolios lack global diversification.
He further added that across the globe they want to enable investors in order to access global wealth creation opportunities in an easy and cost-effective manner.
Vested has tie-ups with more than 35 online brokerages, wealth management platforms, and fintechs, including 5Paisa, Kuvera, and Angel Broking, among others.
With seed funding from Ovo Fund, Moving Capital, and TenOneTen Ventures in the US, and Inflection Point Ventures and Venture Catalysts in India, the startup raised $3.6 million.
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