Financial planning platform Finnovate secures $2 M Pre-Series A funding from angel investors
A group of angel investors, including Ramakant Deshpande, have contributed about $2 million to Finnovate Financial Services, a financial planning platform, in a pre-Series A fundraising round.
The company’s successful $1 million financing in 2023 before this most recent round.
According to a news statement from Finnovate, the funds will be used to boost marketing activities, strengthen business development initiatives, improve the mobile application and technical infrastructure, and scale operations.
Nehal Mota and Naveen Singh co-founded Finnovate with the goal of assisting professionals in reaching their financial objectives through methodical and intentional investing. The company recently obtained a Portfolio Management Services (PMS) license, which increased its market share in the wealth management industry and prepared it for the introduction of its Multi Asset PMS Strategy.
The new service is intended to help investors better navigate market cycles while pursuing long-term wealth development by giving diversified exposure across several asset types. The plan is anticipated to broaden the company’s range of investment products and meet the changing demands of India’s expanding investor base.
Growing financial knowledge, increased capital market involvement, and expanding demand for expert advisory services are all contributing factors to the wealth management industry’s continued strong pace in India. The company wants to provide investors with long-term value by utilizing its technological platform, disciplined investment methods, and specialized advisory capabilities.
