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Nivesh.com Raises INR 03Cr. Seed Funding Through LetsVenture



·  RajanAnandan, MD, Google India and Basab Pradhan - former Infosys Global Sales Head invest in the startup
· Achieved cumulative25,000 transactions within 12 months of operations
·  Plans 3x increasein operations by end of 2018 across tierII and tierIII cities

Nivesh.com, an innovative mass market mutual funds investment platform,today announced raising a seed funding of INR 3 crorethrough LetsVenture. Google India MD –RajanAnandan and former Infosys Global Sales Head - Basab Pradhan are among the major angel investors in the venture.

Other prominent investors include VivekKhare, Advisor Corporate Development at Naukri.com, Debasish Hota, CEO at CompuGain Corporation, USA, Windrose Capital, Bijoy George, Partner at Full Circle Tech LLP, and LetsVenture LLC.

The startup which already has customers across 200 cities and business partners in over 15 cities is looking to grow three folds in terms of business in 2018.

Mutual Fund market has grown over three times in the last 5 years from INR 7.01 trillion in March 2013 to INR 23.26 trillion in April 2018.With an extremely low penetration of around 3-4%, the industry is poised to continue growing at a steady pace.

Talking about the investment Shanti Mohan,Founder,LetsVenturesaid, “Nivesh has a very strong team that has built and executed businesses before and is looking at getting financial products to the next 500 Mn through its omni-channel approach to distribution. This makes it a very attractive deal.

VivekKhare, Director Strategy, LetsVenture further added, “The Indian market is ripe for a platform like Nivesh as mutual fund investments are at an inflection point in India. Savings are moving to financial assets and the Indian market is massively under-penetrated. While a lot of current players are focused on already penetrated metros, Nivesh is putting an emphasis on the large markets outside of the big cities where investors need hand-holding.”

Nivesh.com is an India centric solution intended to fundamentally transform lives of millions. Most of its target customers know the importance of savings but struggle in terms of maximizing returns on their savings. 90% of its customers are first time mutual fund investors.

For more information, visitwww.nivesh.com.




New Delhi, June 11, 2018:

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