Hyderabad based Bhavesh Kotecha has raised Rs 1 crore to start his mutual fund distribution business, BMK Wealth.
Bhavesh has over 10 years of experience in third party distribution. He has worked with IndusInd Bank, IDBI Bank, ICICI Securities and Equitas Small Finance Bank.
"Instead of approaching an angel investor who focuses on the topline and bottomline of the business, I sought help from some of my top clients to raise the seed capital for my business. I shared with them business approach, medium and long term plan to grow business and my vision for the company. As a result, I was able to raise Rs.1crore from a few investors," said Bhavesh.
While Bhavesh incorporated his firm BMK wealth in May 2019, he started his operation in May 2020. Over 100 affluent and HNI clients have come onboard ever since he started his business.
Bhavesh aims to utilize the funds in hiring smart people and target retail investors in Hyderabad and later expand to other locations in the state through branch offices.
