Mumbai-based direct mutual funds investment platform Orowealth has raised $1.6Mn in Series A Funding led by Powerhouse Ventures.
Others who participated in the funding round include Money Forward Inc, Social Capital, B Dash Ventures, Anand Chandrsekaran, Airtel ex-CPO, Dinesh Agarwal, founder Indiamart, among others, along with existing investors M&S Partners and GSF.
With the funding, Sri Peddu from Powerhouse Ventures will join the Orowealth Board and Money Forward will take a board observer’s role at the startup.
Orowealth: A Brief Overview
Founded in 2016 by Nitin Agrawal, Vijay Kuppa, and Yogesh Powar, Orowealth offers zero-commission products and personalised financial advice to retail investors with the aim of maximising their returns.
It has existing partnerships with large financial institutions like Sharekhan and Online Trading Academy to provide wealth management solutions to their clients.
Aimed at “making investors richer”, Orowealth offers financial tools for execution, analysis, and advice on various products such as mutual funds, stocks, bonds, insurance, etc. The founders further claim Orowealth as the direct mutual fund investment platform with the longest track record.