Wealth Management platform INDwealth has raked in a $15 million funding round led by Tiger Global Management.
With the infusion of fresh proceeds, the company is planning to build out its technology, AI, R&D, the advisory team, along with investing in innovative customer acquisition and marketing programs.
Previously, INDwealth had raised $30 million in a seed round from Steadview Capital in October 2018.
Led by former Group CEO of Ibibo group, the startup is an Artificial Intelligence and Machine learning-based wealth management platform for HNI families that enables a one-stop solution for them to organize and manage their investments, loans & taxes.
Intending to build a leading fintech company across the country, Kashyap in a press release said that the timing could not have been better as the need for the use of ‘Data Science’ and ML is even more pronounced in the wealth management industry.
The company had launched its first application in January 2019, which is available on iOS, Android and Web.
IndWealth, which is a flagship product of the parent entity Finzoom Investments also launched a Wealth Advisor web application thus, creating communication and feedback loops between the customers and advisors.
Founded in 2018, IndWealth claims to be the first wealth-tech application from the company targeted at the affluent and HNI segments (across the web, Android, and iOS).
Notably, INDwealth is a SEBI registered advisory platform and have partnered with BSE (Bombay Stock Exchange) to offer secure and reliable transactions. The company is also in the process of building a team of certified finance counsellors across India that will be dedicated to each user family.
Kuvera.in, Expowealth and Kristal.AI are counted as the major competitors of INDwealth.