Eight Roads arm invests $4.5 million in wealth management startup Kuvera
15 April 2019 11:56 PM IST
Kuvera is a zero-fee mutual fund investment platform that provides an option to set investment goals.The startup claims to have 100,000 users who manage about ?3,000 crore in mutual fund assets
- The company that makes venture capital investments across sectors, had set up a global team for strategic investments in the fintech space across India, China, the UK, Singapore, and Hong Kong to add strategic value to Fidelity's global operations in investment management, Alokik Advani, who heads the fintech strategic investment team, said over the phone.
- Kuvera is a zero-fee mutual fund investment platform that provides an option to set investment goals such as buying a house or a car or paying for education, aimed at motivating a culture of savings and investment.
- "We like the platform, theme and traction they have had and that they help with costs and customer experience," said Advani, who led the $4.5 million round in Kuvera.
- Citrus Pay founder Satyen Kothari's Cube Wealth, a wealth management app aimed at a niche market, and Groww, an online investment platform backed by Sequoia Capital, are some of the recent entrants.
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