Finnovate Financial Services, a financial planning platform, has secured approximately $2 million in a pre Series A funding round from a group of angel investors, including Ramakant Deshpande and others.
The latest round comes on the back of the company's successful $1 million raise in 2023.
The proceeds will be deployed towards scaling operations, enhancing the mobile application and technology infrastructure, expanding marketing efforts, and strengthening business development initiatives, Finnovate said in a press release.Co-founded by Nehal Mota and Naveen Singh, Finnovate aims to help professionals achieve their financial goals through structured and purposeful investing. The firm recently received its Portfolio Management Services (PMS) license, expanding its presence in the wealth management space and paving the way for the launch of its upcoming Multi Asset PMS Strategy.
Designed to provide diversified exposure across multiple asset classes, the new offering aims to help investors navigate market cycles more effectively while pursuing long term wealth creation. The strategy is expected to expand the firm's investment solutions suite and cater to the evolving needs of India's growing investor community.
India's wealth management sector continues to witness strong momentum, driven by rising financial awareness, increasing participation in capital markets, and growing demand for professional advisory solutions. The company aims to leverage its personalized advisory capabilities, disciplined investment processes, and technology platform to deliver long term value for investors.