US stock investment platform Vested Finance on Tuesday said it has raised $12 million in a Series A funding round led by Ayon Capital. It also saw participation from existing investors, including Tenoneten, Ovo Fund, Wedbush Ventures, IPV, and Upscale as well new investors including 9Unicorns, Ankur Warikoo (ex-CEO, Groupon India), Dhruvil Sanghvi (CEO, Loginext), and Saumil Parekh (VP, Marketing, PharmEasy) have come on board.
“Content creators such as Akshat Shrivastava, Mukul Malik (Asset Yogi), Sharan Hedge (Finance with Sharan), Dhruv Rathee, Shashank Udupa, and others, are also investing," the company said in its statement.
The California-headquartered company plans to use the funds to expand the team and launch new cross-border products.
“Today, the location where we are born determines the kind of wealth creation opportunities we get access to and that is unfair. Most of our portfolios lack global diversification. We want to enable investors across the globe to access global wealth creation opportunities in an easy and cost-effective manner. The growth that we have seen over the years is testimony to the interest of Indian investors in investing in the US markets. We want to use the funds to scale our team globally and expand our product suite to launch complementary products in the cross-border space while continuing to grow the core US investing user base," said Viram Shah, co-founder and CEO, Vested Finance.