The Indian Wire » Startups » Mutual funds investment marketplace Nivesh raises $600,000 from The Next Billion Fund, other marquee investors
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Mutual funds investment marketplace Nivesh raises $600,000 from The Next Billion Fund, other marquee investors

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Nivesh.com, mutual funds investment marketplace, has bagged $600,000 (approx INR 4 crore) from Windrose Capital‘s The Next Billion Fund, other marquee investors, reported Yourstory.

The platform Nivesh will use the infused financials to to improve its tech platform and build infrastructure.

While, according to the founders, Nivesh.com expects to attract talent and accelerate growth with the recent fund raise.

Rohit Goyal, Managing Partner of Windrose Capital said, “We are very optimistic about the Indian economy over a long-term horizon and strongly believe that financial inclusion will be fuelling this growth along with a few other critical sectors. By helping small investors, safely and transparently invest in a wide variety of regulated financial instruments, Nivesh.com is building a trustworthy ecosystem for first-time investors.”

Nivesh.com was founded by Anurag Garg and Sridhar Srinivasan in 2016. As per its LinkedIn page, Nivesh.com serves marginal investors from Tier II and Tier III cities with limited or no access to formal public financial markets, and employs a network of independent agents in those cities.

Goyal added, “This infrastructure will allow for India’s next billion to become active contributors and participants of the growing economy. Backing the company is symbolic of our conviction in the founding team and their vision. We will continue to enable them through this journey and collectively drive the positive impact on the overlooked populations.”

Anurag said, “The investment by Windrose Capital in our latest funding round is a validation of our model and a huge boost in our mission to take financial products to the masses. We have seen that people want to invest in products like mutual funds, but don’t know how to go ahead. We, at Nivesh.com, are solving this problem by enabling financial advisors to sell the right products through the platform. We are currently growing at 200 percent annually but are on track to accelerate the growth, and aim to manage assets of Rs 10,000 crore in the next four to five years.”

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