Finnovate raises nearly $1 million in funding in its pre-series A round. The investment round, backed by Angel investors, will enable Finnovate to scale its technology-led wealth management platform and Finnversity, a financial literacy platform to help many Indian Families achieve complete financial well-being.
Excited with the funding received, Nehal Mota, Co-Founder, Finnovate mentions that “Over the years, we saw three major challenges, "Indian consumers at large made random & unplanned decisions with money, lacked the right financial knowledge and were getting mis-sold". A few years were lost in wrong investment products. The end result was that most Indian families were not prepared to handle financial risks and their investments didn’t match their financial goals. Through our WealthTech platform, we want Indians to invest in sync with their life goals, make informed decisions with money and reach financial freedom at the earliest”
"Investing in sync with life goals can happen by putting in place a financial plan and preparing a financial plan used to be a very time-consuming and cumbersome process using various templates and calculators,” says Naveen Singh, Co-Founder at Finnovate.