Financial technology startup AssetPlus has raised USD 3.6 million that would help company expand business and launch more financial products on its platform, the company said on Wednesday.
The fund raising was led by InCred and Rainmatter and also saw participation of Venture Catalysts, Swaroop ‘Kittu’ Kolluri, Amit Nanavati, Kedar Kulkarni among others. AssetPlus launched in 2018 by IIT-M alumni Awanish Raj and Vishranth Suresh has been offering digital first solutions to financial advisors and mutual fund distributors.
The founders aim to streamline the processes of investing in mutual funds by offering a platform with a plethora of features, including multi-portfolio support, unbiased research among others. “I am incredibly excited about joining at this stage of its journey and look forward to AssetPlus becoming a multi-billion dollar company in the near future”, InCred Group, founder-CEO Bhupinder Singh said.
Rainmatter and Zerodha CEO Nithin Kamath said, “though the Indian Mutual Fund industry has grown in terms of assets under management, there are just 3.3 crore unique mutual fund investors. If the investor base has to grow you need lakhs of mutual fund distributors..”.
“What AssetPlus is building can go a longway in enabling distributors to do more, and we are super excited to join them”, he said. According to Awanish Raj the company would focus on product development over the next few years. “It will be a challenging yet exciting time for our team”, he said.
Pingback: Pristine Logistics & Infraprojects files IPO papers with Sebi