Global banking and investing app Winvesta has reportedly closed its seed round as it looks to boost its hiring efforts and product development.
Capital lines came from Speciale Invest, Blume Founders Fund and Cred founder Kunal Shah, according to a report from Economic Times.
The size of the investment was not disclosed.
With the fresh funds, the company is looking to scale its operations, increase the size of its team and enhance its technology platform.
Founded in 2019, Winvesta provides consumers in India with a UK multi-currency account and US stock brokerage account. The FinTech’s platform helps users invest into more than 4,500 US stocks and ETFs, buying and selling from as little as $1.
The multi-currency account enables users to receive, send, convert and spend more than 30 currencies, including GDP, EUR and USD.
Winvesta co-founder Swastik Nigam said, “Our client set is swiftly increasing as we’ve started serving not just individuals, but businesses, wealth managers and institutions as well.
“This helps us lay the foundation for targeting the cross-border flow opportunity of over $700 billion for India and beyond. This investment is in the run-up to our pre-Series A round.”
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