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Finnovate, an end-to-end ecosystem that simplifies investing and simplifies tracking to enable people to achieve their desired financial goals, has raised nearly $1 million in Series A funding. The funds raised will enable Finnovate to expand its technology-led wealth management platform and Finnversity, a financial literacy platform that helps many Indian families achieve full financial well-being.
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“Over the years, we have seen three major challenges: Indian consumers generally make random and unplanned decisions with their money, lack proper financial literacy and get mis-sold. Years lost to wrong investment products. The end result It is the majority of Indian households who are not prepared for financial risks and their investments do not 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 achieve financial freedom early,” said Finnovate co-founder Nehal Mota.
Founded by Nehal Mota and Naveen Singh, Finnovate is a wealthtech platform that provides working professionals, high net worth individuals and families with an unbiased, comprehensive and personalised portfolio of financial life planning and research backed investments.
“By developing a financial plan and preparing a financial plan to make investments that are in sync with your life goals, using various templates and calculators used to be a very time-consuming and tedious process. At Finnovate, we use technology to simplify and standardize this process. So much so that financial plans can now be created in less than 10 minutes. Key features of the Finnovate platform will allow families to co-invest and consolidate all their existing investments in one place,” said, “ Naveen Singh, co-founder of Finnovate.
