Finnovate raises about $1 million in Pre-Series A round of funding
- ByStartupStory | September 16, 2022
Finnovate, an end-to-end ecosystem, that makes investing easy and tracking efficient so that users can empower themselves to reach their financial goals, has raised around $1 million in a pre-series A round of funding.
With the funds raised, the startup will be able to scale both its technology-driven wealth management platform and Finnversity, a platform for financial literacy, in order to assist many Indian families in achieving total financial security.
“Over the years, we saw three major challenges; Indian consumers at large made random and unplanned decisions with money, lacked the right financial knowledge and were getting mis-sold. A few years were lost in wrong investment products. The end result was that most Indian families were not prepared to handle financial risks and their investments didn’t match their financial goals. Through our wealthtech platform, we want Indians to invest in sync with their life goals, make informed decisions with money and reach financial freedom at the earliest,” says Nehal Mota, co-founder, Finnovate.
“Investing in sync with life goals can happen by putting in place a financial plan and preparing a financial plan used to be a very time-consuming and cumbersome process using various templates and calculators. At Finnovate, we have used technology to simplify and standardize this process so much that now a financial plan can be created in less than 10 minutes. Key features of Finnovate’s platform will allow families to invest together and consolidate all their existing investments in one place,” said,” Naveen Singh, co-founder at Finnovate.
Founded by Nehal Mota and Naveen Singh in 2007, with its registration office in Mumbai, Finovate is a wealth technology platform that provides working professionals, high-net-worth individuals, and families with unbiased and true, comprehensive, individualised financial life planning and researched-backed investment portfolios.
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