Nivesh collects $1.6m in its pre-Series A funding round

May 4, 2021

Nivesh, which claims to be the mutual fund for all, has reportedly collected $1.6m in its pre-Series A funding round.

IAN Fund led the round, with commitments also coming from a number of angel investors, according to a report from YourStory.

With the equity boost, the FinTech hopes to grow its product portfolio, deepen its technology and automation capabilities, scale its partners and hire more staff.

The company, which is based in India, enables retail investors to back financial assets previously unavailable to them. Its products include mutual funds, P2P lending, PMS, fixed deposits, AIF, bonds, NPS and more.

Its services are designed to help individuals improve their financial situation and prepare for the future.

Nivesh founder and CEO Anurag Garg told YourStory said, “We are looking at making Nivesh a full-stack platform, taking care of all financial needs of our customers.

We will continue to integrate all possible products towards that end. The aim is to increase the penetration of financial products like mutual funds, corporate FDs, insurance, etc., in India’s Tier 2/3/4 cities.

We, at Nivesh, follow a hybrid model of digital-first approach, with human connect to reach people in every corner of the country.”