Vijya Fintech raises Rs 7 Cr in an angel round

Wealth tech platform Vijya Fintech Private Limited (VFPL) has raised Rs 7 crore in an angel round bringing the total investment in the company to Rs 15 crore. The investors in the round include Lemon Tech, Lemon Emerging Ventures, Veloce Fintech, and tech experts.

VFPL had raised $1 million (around Rs.8.25 crore) from multiple investors in November 2022.

The funds will be strategically used in growth initiatives, ramp up go-to-market strategies, and expand market reach, the company said in a press release. 

Founded by Aakash Bansal, Paresh Paladiya and Rajesh Soni, VFPL's wealth management platform offers easy integration for investors, distributors, advisors, and stockbrokers, delivering insights and solutions to financial intermediaries.

The company said that over 2,000 intermediaries like mutual fund distributors (MFDs), registered investment advisors (RIAs) and stock brokers have been using their platform.

The firm also plans to launch MIDASX, an innovative B2B2C marketplace to transform financial interactions.