Nivesh, a fintech startup, announced today (04.05.21) that it raised USD 1.6 million in the seed funding round. This round was led by IAN Fund, with the participation of LetsVenture’s LV Angel Fund and angel investors Raghav Kapur and Vir Mehta.
The company will utilise the raised funds to expand its portfolio of products, bring automation to upgrade technology, scale up its partners, and increase team strength.
Nivesh aims to aid its customer’s fiscal needs with various products, mainly by lending and insurance.
About the Company:
Nivesh is an Indian Startup based in Noida, active since August 2016. It was started by Anurag Garg (CEO) and Sridhar Srinivas (CTO). It is a market for mutual funds investments and aims to make capital investment available for everyone.
This platform untangles the investment process by distinguishing the different funds as per the objectives of investments. It helps financial products distributors and mutual funds to keep their feet firm in the country. It also aids distributors to expand their reach to different clients in the market and keep their performance portfolio updated.
Nivesh has planned to bring access to different languages to connect with more clients with ease and keep their growth increasing. The company is focused on growing and evolving by keeping its foundation strong.
The company has raised USD 2.6 Million in four funding rounds. Till now, it has been funded by 11 investors and the IAN and Raghav Kapur are the most recent ones.
Words from the Founder:
“We are looking at making Nivesh a full-stack platform, taking care of all financial needs of our customers. We will continue to integrate all possible products towards that end. The aim is to increase the penetration of financial products like mutual funds, corporate FDs, insurance, etc., in India’s Tier 2/3/4 cities. We, at Nivesh, follow a hybrid model of digital-first approach, with human connect to reach people in every corner of the country.” – said Anurag Garg, CEO & Founder, Nivesh.
Words from the Investor:
“As a digital-first platform, Nivesh’s pursuit is to solve the problem of low penetration of financial products in India. The company has adopted a unique tech-human approach as it offers cutting-edge technology-enabled solutions while providing an exceptional customer experience. But, what excited us most, is Anurag’s ability to lead the company to build a high-growth digital platform, catering to all financial needs of customers right across the country, and Srinivasan’s ability to architect and lead the cutting-edge technology evolution of this digital platform.” – said Padmaja Ruparel, Founding Partner of IAN Fund.
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