Friday, Mar 29 2024 | Time 15:13 Hrs(IST)
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Business Economy


Fintech startup Assetplus raises USD 3.6 million

New Delhi, May 11 (UNI) Fintech platform AssetPlus has raised USD 3.6 million, a statement from the company said on Wednesday.
This round of funding was led by Bhupinder Singh of InCred and Nithin Kamath of Rainmatter and also saw participation from Venture Catalysts, Swaroop “Kittu” Kolluri, Amit Nanavati, Kedar Kulkarni, and other angel investors.
The Chennai-headquartered fin-tech aims to utilize the funding to expand its business and include more financial products on the platform.
Founded by two IIT- Madras graduates, Awanish Raj and Vishranth Suresh, and launched in 2018, AssetPlus focuses on offering digital-first solutions to financial advisors and mutual fund distributors.
Bhupinder Singh, one of the primary investors in this round of funding and founder and CEO of the InCred Group, said, "AssetPlus is a fantastic example of the breed of Young Entrepreneurs who have become a disruptive force in the Indian Wealth and Lending industries in the last few years.
Its phenomenal leadership team is unparalleled in passion and innovation. The differentiated nature of their outstanding tech platform sets it up exceptionally well to become a market leader in the B2B2C Wealth space.
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."
Awanish Raj, one of the co-founders, said, "Undoubtedly, we have built a community of users who use the platform every day. Now that we have seen the success of our platform, we are eager to roll out new financial products. We'll be focusing on product development over the next few years. It will be a challenging yet exciting time for our team."
Nithin Kamath, CEO of Rainmatter and Zerodha, said, "Though the Indian mutual fund industry has grown in terms of AUM, there are just 3.3 crore unique mutual fund investors. If the investor base has to grow, you need lakhs of mutual fund distributors that are growing and thriving. But today, distributors lack the tools and support to grow their businesses, deal with compliance requirements, and support investors. What AssetPlus is building can go a long way in enabling distributors to do more, and we are super excited to join them in this journey."
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