Join our Waitlist for Expert Advice!

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

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

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.

"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.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

'Not Yet Fully Autonomous': Tesla's Optimus Robots Stole the Show — But Were They Actually Controlled By Humans?

Musk said the $20,000 to $30,000 robot could perform household tasks like mowing lawns and putting away groceries.

Starting a Business

She Started a Business With $300 After Getting Laid Off. It Made $300,000 in Year 1 and Became a Multimillion-Dollar Company.

Bobbie Racette wanted to revamp the virtual assistance space — and provide job opportunities for underrepresented communities at the same time.

Business News

Whole Foods Was Accused of 'Shrinkflation' After Changing Its Berry Chantilly Cake Slices. Here's Why the Company Reversed Course.

After changing the recipe and size of its beloved cake slices, social media users were outraged. Now, Whole Foods is bringing the original back to cases this week.

Thought Leaders

The Human Side of Wealth — 5 Insights I Learned from Ron Diamond

Ahead of Entrepreneur's workshop with Ron Diamond, learn how he balances legacy with humility, learns from failure, and builds trust-based relationships to redefine wealth through purpose-driven Family Offices.

Business News

Taylor Swift Received a London Police Escort That's Usually Reserved for Royals. Taxpayers Are Freaking Out.

A new report says that Taylor Swift received unprecedented levels of protection after her mother and manager threatened to cancel Wembley Stadium dates.