Wealth management platform Nivesh raises $1.6m led by Indian Angel Network
Photo: Reuters
May 4, 2021
Wealth management platform, Nivesh, on Tuesday said it has raised $1.6 million, led by Indian Angel Network (IAN) Fund. The round also saw participation from other angel investors including LV Angel Fund.
According to the company, the freshly infused capital will be utilised for expansion of its product portfolio, specifically towards introducing newer insurance and credit products. The company is also expected to use the funding towards technology enhancement by bringing in automation and user personalization.
Five-year-old Nivesh is a technology platform that allows mutual fund distributors to list and distribute their financial products to consumers in a digital-first manner. Apart from mutual funds, the platform also allows distributors to list other products, including corporate fixed deposits and insurance.
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Apr 8, 2021
The fifth batch of Lab32 will commence on 15 March 2021 with selected startups that bring in leading-edge solutions for industries, such as health-tech, fintech, smart mobility, sustainability and edtech, among others. Thirty to thirty-five startups will be shortlisted from applications after a focused and extensive screening process. Interested startups can apply on https://bit.ly/3dDtAZH or email lab32@t-hub.co. Applications close on 6 March 2021.
The program will continue with its hybrid model launched last year owing to the pandemic. It will enable more entrepreneurs across India to participate in the program without the need for a physical presence in Hyderabad. Lab32’s modules will focus on helping the startups build better versions of products or discover and tap into market opportunities. This batch is looking to enable startups from tier 2 and 3 cities to position themselves for growth.
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The year 2020 has proven to be a period of fundamental shift both for the Indian startup and investor ecosystems. For investors engaged in early to growth-stage investment activity, April and May were exceptionally challenging when they had to take a step back to calibrate their investable income during the pandemic.