Finnovate Raises Nearly $1 million In Pre-Series A Funding

Finnovate, an end-to-end ecosystem that simplifies investment and streamlines tracking to empower one to achieve the desired financial goals, has raised nearly $1 million in pre-series A funding round. The fund raised 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.

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"Over the years, we saw three major challenges; Indian consumers at large made random and 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," said Nehal Mota, co-founder, Finnovate.

Founded by Nehal Mota and Naveen Singh, Finnovate is a wealth tech platform which offers unbiased, holistic, personalized financial life planning and researched backed investment portfolios to working professionals, high-net-worth individuals and families.

"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. At Finnovate, we have used technology to simplify and standardize this process so much that now a financial plan can be created in less than 10 minutes. Key features of Finnovate's platform will allow families to invest together and consolidate all their existing investments in one place," said," Naveen Singh, co-founder at Finnovate.