Nivesh.com, a fintech startup has raised $1.6 Million led by IAN Fund. The round also saw participation from other co-investors including angel investors from Indian Angel Network, LV Angel Fund as well as other angel investors. Nivesh is a mobile-first digital platform helping distributors of mutual funds and other financial products to deepen their penetration in the country. The platform enables distributors to expand their businesses and bring in new clients, who can now be serviced for different AMCs and hence experience improved portfolio performance.
The freshly infused capital will be utilized for the expansion of product portfolio, specifically Insurance and Lending Products, in addition to bringing more investment products for its partners and customers. The expansion will also focus on technology enhancement by bringing in automation where customers will be suggested the right products on the basis of understanding of their needs. Nivesh is also aiming to scale up partners onboarding and ramp-up the team.
In 2020, Nivesh was listed in WealthTech100, which is an annual list of top 100 of the world’s most innovative WealthTech companies selected by a panel of industry experts and analysts. The company has previously been funded by LV Angel Fund, Next Billion Fund managed by Windrose Capital, and marquee angel investors.
