B2B2C Investment technology platform WealthDesk has closed its $3.2 million pre-Series A funding led by Former Blackstone Partner and co-head of India PE, Mathew Cyriac. Earlier this year, it had raised the first tranche of the round from individual investors including senior leaders from global banks, market participants and others.
The company will use the funds to invest in research and development, building technology, acquiring talent, and business expansion.
Founded by Ujjwal Jain, WealthDesk helps its users to invest in systematic, modern Investment products building long-term and short-term portfolios. It solves the problem of retail investors as it helps them understand where and how to invest.
Over the past six months, WealthDesk has doubled the number of advisors and research partners, and brokers on its platform, and continues to onboard 3-5 partners every month.
The lead investor in this round Cyriac had previously invested in several Indian startups such as CityCash, Cashe and Mobikwik.