Gopal Srinivasan, Chairman of TVS Capital, Narayan Seshadri, Chairman of Tranzmute Capital & Management and other investors have picked up 52% stake in Bengaluru based wealth management firm International Money Matters. They have invested in their personal capacity.
Founded by Lovaii Navlakhi, International Money Matters is registered with SEBI as RIA and manages Rs. 850 crore of assets under management. Lovaii said that this alliance will help the company to scale up further.
International Money Matters has offices in Bengaluru, Mumbai and Delhi. With this partnership, Lovaii is aiming to grow his business geographically and invest in technology. “We want to expand this business geographically in other parts of the country. To support this growth, we want to invest in technology.”
To provide a low cost investment solution, Lovaii said his firm will build a platform for retail investors to invest seamlessly. The firm also specialises in cross border financial planning and caters to 100 NRIs.
International Money Matters has 55 employees and Lovaii says that he wants to strengthen and improve his client servicing. “Clients value services. They want constant hand holding. A superior client experience will help us retain clients as well as grow our wallet share,” adds Lovaii.
The company currently has 500 fee paying clients and aims to grow its client base to 1000.
