Fintech startup Assetplus raises $3.6 mn in round led by InCred and Rainmatter
- ByStartupStory | May 11, 2022
AssetPlus, a Fintech platform, announced that it has raised $ 3.6 million. The funding round was led by InCred’s Bhupinder Singh and Rainmatter’s Nithin Kamath, with participation from Venture Catalysts, Swaroop “Kittu” Kolluri, Amit Nanavati, Kedar Kulkarni and other business angels.
Chennai-based FinTech plans to use the funds to grow its business and add financial products to its platform.
Founded by two IIT Madras graduates Awanish Raj and Vishranth Suresh, Asset Plus was founded in 2018. AssetPlus focuses on providing digital first solutions to financial advisors and investment trust distributors.
The founder aims to streamline the investment trust investment process by providing a rich platform with multi-portfolio support, impartial research, digital marketing capabilities and more. The platform provides all registered ARN holders with free lifetime registration to extend the service to the region with a single dashboard by reinventing the traditional approach of treating multiple customers. To do. One of the co-founders, Awanish Raj, said, “It will be a challenging but exciting time for our team.”
One of the primary investors in this round of funding, Bhupinder Singh, Founder and CEO of the InCred Group, said, “The differentiated nature of their outstanding tech platform sets it up exceptionally well to become a market leader in the B2B2C Wealth space.”
Nithin Kamath, CEO of Rainmatter and Zerodha said, “Though the Indian mutual fund industry has grown in terms of AUM, there are just 3.3 crore unique mutual fund investors. If the investor base has to grow, you need lakhs of mutual fund distributors that are growing and thriving. But today, distributors lack the tools and support to grow their businesses, deal with compliance requirements, and support investors. What AssetPlus is building can go a long way in enabling distributors to do more, and we are super excited to join them in this journey.”
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