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Wealthtech startups Dezerv, Stable Money buck trend to draw VCs
Economic Times
·
1y ago
Medial
Wealthtech startups, including Dezerv, Stable Money, Fisdom, Scripbox, and Angel One, are attracting significant equity funding. Dezerv is close to securing $30 million led by Premji Invest, while Stable Money is set to secure $17 million with RTP Global as the likely lead investor. Fisdom received $5 million from PayU, and Scripbox is reportedly looking to raise $25 million. Angel One intends to raise $240 million for its fintech operations. Wealthtech companies stand out as they have shown profitability and revenue growth, attracting investor attention.
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Related News
VCs fire up wealthtech investments as stock market surge ignites HNI boom
Economic Times
·
11m ago
Medial
Indian wealthtech startups are receiving substantial investments as the country's stock markets expand and wealth generation increases. Market intelligence platform Tracxn reports that investors have poured around $228 million into Indian wealthtech startups in the past two years, with $70 million invested so far in 2024. The sector is attractive due to the growing number of high net-worth individuals (HNIs) in India. Wealthtech firms utilize data analytics and technology to offer personalized investment strategies at a lower cost compared to traditional wealth management services. Two types of wealthtech startups are emerging: those focused on premium wealth management and those building fixed income products and platforms for alternative asset classes.
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Dezerv Raises $32 Mn From Premji Invest, Others At A Valuation Of Over $200 Mn
Inc42
·
1y ago
Medial
Dezerv, a wealthtech startup, has received a $20 million investment from Premji Invest in its Series B funding round. Existing investors, including Elevation Capital, Matrix Partners, and Accel Partners, also participated in the funding. Established in 2021, Dezerv claims to have managed assets worth over INR 6,000 crore since its inception.
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Nandan Nilekani’s Fundamentum leads $20-mn Series B in Stable Money
VCCircle
·
1m ago
Medial
Wealthtech platform Stable Money has raised $20 million in a Series B funding round led by Nandan Nilekani’s Fundamentum Partnership, with participation from existing investors Z47, RTP Global, and Lightspeed, plus Aditya Birla Ventures. This comes 10 months after a $15 million Series A round. Stable Money, founded in 2022, plans to expand its wealth product offerings and partner network while focusing on underserved investors in tier II and III cities.
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Exclusive: Wealthtech startup Stable Money raises $15 Mn in new round
Entrackr
·
1y ago
Medial
Wealthtech startup Stable Money has raised over Rs 123 crore nearly $15 million in a new round from RTP Capital, Lightspeed India, and Matrix Partner. The Bengaluru-based company has become one of the few startups to close two rounds within a year, especially during the so called funding winter. The board at Stable Money has passed a special resolution to issue 77,135 CCPS at price of Rs 16,019 each to raise Rs 123.56 crore or $14.74 million, its regulatory filing accessed from the Registrar of Companies (ROC) shows. RTP Capital led the round with Rs 54.26 crore ($6.5 million) while Lightspeed India and Matrix Partners India pumped in Rs 34.64 crore ($4.15 million) each in this round. In August 2023, Stable Money scooped up $5 million in its first equity fundraise led by Matrix Partners and Lightspeed. Titan Capital, Mar Shot Ventures and a clutch of prominent angel investors also participated in the round. As per startup data intelligence platform TheKredible, Stable Money will be valued at around $60 million post money. This is nearly four fold jump in valuation from $16.5 million in the last round. Founded in late 2022 by Saurabh Jain and Harish Reddy, Stable Money is building a fixed-return investment platform to provide financial consultation services to investors. The platform will also publish financial literacy content on its online platform to create awareness among investors. A clutch of wealthtech startups have managed to score decent funding in the ongoing calendar year. Recently Deserv raked in $32 million in its Series B round led by Premji Invest. In May, wealth management platform Wealthy raised $5.4 million in a new round led by Alpha Wave Incubation Fund.
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Stable Money raises $20 mn to boost digital fixed-income tools
Inshorts
·
1m ago
Medial
Bengaluru-based wealthtech startup Stable Money has raised $20 million in a round led by Fundamentum Partnership, with participation from Lightspeed, Z47, and Aditya Birla Ventures. The platform offers digital fixed-return products like FDs and bonds, manages over ₹3,000 crore in assets, and plans to expand its offerings and partnerships to meet growing demand from risk-averse Indian investors.
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Wealthtech sector takes to AI models to rewire business
Economic Times
·
10m ago
Medial
Wealthtech startups in India are leveraging advanced AI models, such as ChatGPT, to enhance their services. Centricity, backed by Lightspeed India Partners, is incorporating generative AI to improve processes like recommendations and content dissemination. However, industry insiders believe that AI adoption is still in the early stages due to a lack of data on conversations between relationship managers and investors. Other companies like IndMoney and Stable Money are also using AI to streamline interactions with customers, while mStock is focusing on bringing standardization and timeliness to its responses. Data security and client confidentiality remain important considerations for AI adoption in financial services.
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Stable Money to raise $20 Mn led by Fundamentum with 2.3X valuation jump
Entrackr
·
2m ago
Medial
Wealthtech startup Stable Money is raising Rs 173 crore (around $20 million) in a funding round led by The Fundamentum Partnership Fund, with participation from existing investors Matrix Partners, RTP Global, and Lightspeed India. The board at Stable Money has issued 10 equity and 51,914 Series B preference shares at an issue price of Rs 33,345 each to raise Rs 173 crore or $20 million, its regulatory filings accessed from the Registrar of Companies (RoC) show. The Fundamentum Partnership Fund will lead the round with an investment of Rs 86.5 crore ($10 million). Existing investors will also join in, including RTP Global with Rs 33.78 crore, Matrix Partners with Rs 45.42 crore, Lightspeed India with Rs 4.32 crore, and Naman Finance with Rs 3 crore. Stable Money plans to use the funds for capital expenditure, marketing, and general corporate purposes. Entrackr estimates that the company’s valuation will reach approximately $130 million following the allotment. This is a 2.3X valuation surge when compared to its last $15 million Series A round. After the allotment of this round, The Fundamentum Partnership Fund will hold a 7.94% stake in Stable Money. Matrix will hold 18.97%, RTP Global 13.45%, Lightspeed India 15.20%, and Naman Finance 0.28%. Founded in late 2022 by Saurabh Jain and Harish Reddy, Stable Money operates in the wealthtech space, focusing on simplifying fixed-income investing for retail customers. It provides a digital platform where users can compare, invest in, and manage fixed-income products, particularly bank fixed deposits (FDs), offered by multiple banks. The company has not yet filed its financial results for FY25. For the fiscal year ended March 2024, it remained in the pre-revenue stage, reporting an operating income of Rs 35.3 lakh and a net loss of Rs 12.29 crore.
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Inside fintech startups' plan to make fixed-income products attractive
Economic Times
·
1y ago
Medial
Fintech startups are now working with banks to help them attract term deposits. Fixerra, Stable Money, and Upswing are examples of startups collaborating with large lenders to offer fixed deposits, recurring deposits, and credit cards secured against fixed deposits. Stable Money focuses on the consumer market, while Fixerra and Upswing operate in the B2B segment. These collaborations aim to strengthen the banks' offerings in the digital banking space.
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ETtech Deals Digest: Startup funding plummets 80% YoY to $58.3 million this week
Economic Times
·
12m ago
Medial
Startups saw a sharp decline in funding during the fourth week of July, with only $58.3 million raised compared to $293 million in the same period last year. This marks an 80.1% decrease in funding and a 72.3% drop from the previous week. Only eight funding rounds took place, down from 28 rounds last year. Space startup Unimech Aerospace secured the largest deal, raising $30 million in a funding round led by Steadview Capital, ValueQuest Scale Fund, and Evolvence India. Other significant deals included wealthtech startup Stable Money raising $15 million and flexible workspace provider Incuspaze raising $8 million. Nasher Miles, a direct-to-consumer luggage brand, also raised $4 million.
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Smallcase raises $50 Mn in Series D led by Elev8
Entrackr
·
3m ago
Medial
Smallcase raises $50 Mn in Series D led by Elev8 Wealthtech startup Smallcase has raised $50 million in its Series D round led by Elev8 Venture Partners, a $200 million growth-stage fund focused on high-potential Indian startups. The round also saw participation from State Street Global Advisors, Niveshaay AIF, Faering Capital, and Arkam Ventures. The capital will be used to expand Smallcase’s investment product offerings across asset classes and strengthen its relationships with retail investors and ecosystem partners, Smallcase said in a press release. The new round is coming after a gap of more than 3.5 years. Smallcase has raised around $120 million to date, including $40 million in a Series C round led by Faering Capital in August 2021. According to the startup data intelligence platform TheKredible, Peak XV is the largest external stakeholder, followed by Faering Capital and Blume Ventures. Launched in 2016, Smallcase offers a model portfolio platform that has served over 10 million investors. It also provides technology solutions to more than 250 financial institutions, including research firms, advisors, wealth managers, and brokerages. The platform recently expanded its offerings through a joint venture with Zerodha to launch an asset management company focused on index funds and ETFs. Smallcase's revenue from operations surged to Rs 67.4 crore in FY24 from Rs 30.6 crore in FY23. A drop in advertising and employee benefits enabled the company to reduce its losses by 74.4% to Rs 34 crore in the last fiscal year. According to TheKredible, Indian wealthtech startups such as Neo, Dezerv, Centricity, Stable Money, Fisdom, InvestorAi, and Wealthy have garnered nearly $250 million in funding across 15 deals in the past 18 months. Elev8 Venture Partners, backed by South Korea’s KB Investment, focuses on B2B SaaS, enterprise tech, consumer tech, and fintech. This is its third investment after supporting identity verification platform IDfy and astrotech platform Astrotalk.
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Accel Partners
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