India's AssetPlus Raises $3.6 million

  • Fundraising News
  • 13.05.2022 08:45 am

AssetPlus has raised USD 3.6 million. Venture Catalysts, Swaroop “Kittu” Kolluri, Amit Nanavati, Kedar Kulkarni, and other angel investors joined Mr. Bhupinder Singh of InCred and Mr. Nithin Kamath of Rainmatter in this round of fundraising. The Chennai-based fintech intends to use the funds to grow its operations and add new financial products to its platform. AssetPlus, founded in 2018 by Awanish Raj and Vishranth Suresh, focuses on providing digital-first solutions to financial advisors and mutual fund distributors. 

Over 1,500 advisors across the country trust the organization, which is suited for new and seasoned consultants. The platform's features include multi-portfolio support, unbiased research, digital marketing capabilities, and more. The platform allows all registered ARN-holders to expand their services to geographies with a single dashboard by redefining the traditional technique to handle multiple clients. 

Mr. Bhupinder Singh, Founder and CEO of the InCred Group, remarked:

"AssetPlus is a great example of the new breed of Young Entrepreneurs disrupting the Indian Wealth and Lending industries. Its incredible leadership team is passionate and innovative. Their superb tech platform is uniquely positioned to become a market leader in B2B2C Wealth. 

One of the founders, Awanish Raj, remarked: 

"Undoubtedly, we have developed a community of daily users. Our platform's success has fueled our desire to introduce new financial offerings. We'll spend the next few years developing new products. Our team faces a hard but exciting period." 

Rainmatter and Zerodha CEO Nithin Kamath adds: 

"While AUM in the Indian mutual fund market has risen, there are only 3.3 crore unique investors. To expand the investor base, you need lakhs of prospering mutual fund distributors. The tools and support needed to build their enterprises, comply with regulations and support investors are lacking. We are pleased to join AssetPlus on this journey to help distributors do more." 

AssetPlus has over 1,500 distributors and over 2,25,000 users. During the past financial year, the platform processed over INR 750 Cr. Online tracking and paperless investments now meet human competence in mutual funds. A single platform for all financial products, AssetPlus hopes to empower 10,000+ distributors and 5,000+ investors in the next 18 months.

Related News