Nivesh.com has secured USD 1.6 million (about Rs. 12 crore) in a funding round led by IAN Fund, a seed/early-stage fund. The round also saw participation from other co-investors including angel investors from Indian Angel Network, LV Angel Fund, and angel investors like Vir Mehta and Raghav Kapur.
Nivesh.com is founded by Anurag Garg and co-founded by Sridhar Srinivasan. It offers regular plans to investors and facilitates technology platform for individual distributors.
The fintech featured in WealthTech100 list in 2020, which is an annual list of the top 100 world’s most innovative WealthTech companies.
The procured funding will be utilized towards expanding the product portfolio, which currently includes mutual funds, corporate FDs, P2P lending and PMS. The startup will focus on adding insurance and lending products over the next few months.
Talking about the development, Anurag who is also the CEO of Nivesh.com said, “We are looking at making Nivesh a full-stack platform taking care of all financial needs of our customers. So, 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.”
Nivesh.com currently has more than 1,000 distribution partners operating across 100 plus locations in India and caters to 11,000 investors located across 1,000 pin codes.
