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News on Medial
Small-town India takes to wealth advisory services in a fresh twist
Economic Times
·
3m ago
Medial
People in smaller towns are increasingly using wealth management services like portfolio management and alternative investment funds. Around 30% of new users for these services are from beyond top state capitals, driven by technological advancements, financial growth, and better access to information. Wealthtech startups, through digital and physical networks, cater to this demand. The surge in retail stock market participation and the rise of high-net-worth individuals in these areas further fuel this trend.
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Related News
Investors flock to small town 'desi' startups as funding surges
Livemint
·
1y ago
Medial
Investors are increasingly showing interest in small-town startups in India, as they recognize the potential for entrepreneurship in Tier-II and Tier-III cities. A recent report by Primus Partners revealed that about 90% of startups in 2023 originated from these small cities, receiving around 22% of total funding. The surge in funding for small-town startups can be attributed to factors such as government initiatives, increased digitalization, and the availability of a large talent pool. Despite these positive developments, some startups still face challenges in securing sufficient funding for growth.
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MUFG expands India BFSI basket with investment in Neo Group
VCCircle
·
12m ago
Medial
MUFG, a Japanese banking major, has invested in wealth and asset manager Neo Group as part of its expansion in the Indian BFSI sector. MUFG, along with New York-based investment manager Euclidean Capital LLC, led a funding round of $48 million (Rs 400 crore) in Neo Group. The funds will be used to enhance Neo's wealth management division and support its asset management business. Neo Group, founded in 2021, offers financial advisory services and focuses on credit and real assets. This investment marks MUFG's first foray into wealth management in India.
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Angel One infuses Rs 250 crore into wealth management arm
Economic Times
·
1y ago
Medial
Mumbai-based Angel One has invested Rs 250 crore into its wealth management arm, Angel One Wealth, to cater to the growing number of high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs) in India. The investment will be used to enhance technology infrastructure, leverage artificial intelligence and analytics, and expand the company's presence in key markets. Angel One Wealth aims to develop curated product strategies and suites for its clients. The firm offers personalized investment advisory, portfolio management, and financial planning services using advanced analytics and technology.
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InCred Group acquires Dubai-based Arrow Capital to expand Middle East ops
VCCircle
·
5m ago
Medial
InCred Group has acquired Arrow Capital, a Dubai-based financial services firm, to bolster its presence in the Middle East and Africa. Founded in 2016, Arrow Capital offers wealth management, investment advisory, corporate finance, and asset management services. The acquisition enhances InCred's global capabilities in wealth management, investment banking, and asset management, managing over $2 billion in assets across Dubai, Singapore, and London, while accelerating its growth across multiple business lines.
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RBI approves Jio Financial Services' conversion to core investment company
YourStory
·
1y ago
Medial
The Reserve Bank of India (RBI) has given approval for Jio Financial Services Ltd to convert from a non-banking financial company (NBFC) to a core investment company (CIC). This conversion allows Jio Financial Services to primarily engage in acquiring shares and securities. Jio Financial Services recently launched the "JioFinance" app, which offers a range of financial services such as banking, transactions, bill settlements, and insurance advisory features. The company plans to expand its offerings to include lending, investment, and insurance services in the future. Additionally, Jio Financial Services announced a joint venture with BlackRock to provide wealth management and brokerage services in India.
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Aman Gupta tears cheque after making an offer to pitchers; says 'Bhai tu mujhe maaf kar'
IndianStartupNews
·
1y ago
Medial
In a surprising twist on Shark Tank India Season 3, Aman Gupta, co-founder of boAt and one of the "sharks," tore up his cheque and withdrew his offer after a negotiation with two brothers seeking investment for their vegetarian fast food chain, Zorko. The brothers had requested 100 advisory hours alongside the financial deal, which led to Gupta's frustration. Ritesh Agarwal also withdrew from the deal, citing the pitchers' indecisiveness.
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Harness Wealth wants to bring sophisticated tax planning to the masses
TechCrunch
·
1y ago
Medial
Harness Wealth, a financial advice platform for startup founders and employees, has raised an additional $17 million in an extension to its Series A round. The company, which started in 2018, has expanded into the tax advisory space and now offers a tax advisory platform that powers the practices of leading tax advisors. In addition, it acts as a marketplace for discovering advisors and services, as well as providing consumer financial insight tools. Harness Wealth has experienced significant growth since its last funding round, attracting clients from various industries including tech founders, pro athletes, artists, and journalists.
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Waterfield Advisors secures $18 million from Jungle Ventures in primary-secondary mix
Economic Times
·
5m ago
Medial
Waterfield Advisors, a wealth advisory firm, raised $18 million in a funding round led by Jungle Ventures, comprising $15 million in primary capital and $3 million to buy out existing investors. The funds will enhance technology, expand their presence in key financial hubs, and improve client engagement. With advisory services on $5 billion in assets, the firm aims to reach founders, professionals, and women, including India's tier-2 and tier-3 cities and international markets.
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Is marketing the real engine of e-commerce in India?
Inshorts
·
3m ago
Medial
E-commerce in India isn't growing by luck, it's powered by sharp, adaptive marketing. From Tier 1 metros to small-town India, brands are using personalised messaging, regional targeting, and digital-first campaigns to capture consumer attention. It's not just about having a great product, it's about being seen, understood, and trusted online.
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Leapfrog, Stakeboat-backed Dvara KGFS set to secure fresh capital
VCCircle
·
5m ago
Medial
Dvara Kshetriya Grameen Financial Services Ltd (Dvara KGFS), a shadow banking entity supported by Leapfrog Investments and Stakeboat Capital, is raising $12 million in fresh capital from a global development financial institution. The Chennai-based firm aims to use this capital to expand its lending operations to small businesses across India, bolstering its financial services reach and impact.
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