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WealthDesk raises pre-Series A funding

Mumbai: WealthDesk, a business-to-business-to-consumer (B2B2C) investment-tech platform, has raised an undisclosed amount in pre-Series A funding.

The platform, run by Wealth Technology and Services Pvt Ltd, said it has raised this capital from investors including senior leaders at global banks, market participants, and technology-based corporations.

It did not disclose the identities of these investors. This pre-Series A round is WealthDesk’s first external funding exercise.

The startup was set up in 2016 by Ujjwal Jain. The company says its platform captures the entire investment management value chain on top of equities and exchange-traded funds and bundles them into products called WealthBaskets. These products are then distributed through its broking partners.

“We plan to use this funding to hire great talent, invest in research and development, and further build out the technology to expand the business,” Jain said.

WealthDesk says it currently has partnerships with 15 full-service brokers and 10 investment advisers registered with the Securities and Exchange Board of India.

Source
VCCiRCLE

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