Finnovate Financial Services, a leading financial planning platform, has successfully raised around $2 million in a pre Series A funding round from a selection of angel investors, including Ramakant Deshpande and others. This funding comes after the company’s impressive $1 million fundraising in 2023. The funds will be used to increase operational capability, improve the mobile application and technological infrastructure, boost marketing initiatives, and enhance business development efforts, as announced in a press release by Finnovate.
Co-founded by Nehal Mota and Naveen Singh, Finnovate is dedicated to assisting professionals in reaching their financial objectives through systematic and goal-oriented investing. The firm recently obtained its Portfolio Management Services (PMS) license, which broadens its engagement in the wealth management sector and sets the stage for the introduction of its forthcoming Multi Asset PMS Strategy.
This new strategy is crafted to offer diversified exposure to various asset classes, helping investors manage market fluctuations more effectively while aiming for long-term wealth growth. It is anticipated that this strategy will broaden the firm’s range of investment solutions, addressing the changing needs of India’s expanding investor base.
India’s wealth management industry is experiencing robust growth, influenced by a surge in financial literacy, greater involvement in capital markets, and an increasing demand for professional advisory services. The company is strategically positioned to utilise its tailored advisory services, systematic investment methods, and technology-driven platform to provide enduring value for investors.