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Investment Tech Platform WealthDesk Raises $3.2 Mn

Investment Tech Platform WealthDesk Raises $3.2 Mn

The company plans on using the funds to hire talent, invest in R&D and further build out the technology to expand business

WealthDesk enables portfolio-based investing on top of equities and ETFs, consolidating research, advisory, broking, asset and wealth management ecosystem

The investment tech market is projected to reach a market cap of $14.5 Bn by 2025

Investment tech platform, WealthDesk has raised funding former Blackstone partner and co-head (India), Mathew Cyriac, in his personal capacity. With this final tranche, WealthDesk has closed its Pre Series A round at $3.2 Mn. Earlier this year, WealthDesk had raised the first tranche of their Pre-Series A funding from individual investors including senior leaders from global banks, market participants and other top corporates.

The platform enables portfolio-based investing on top of equities and ETFs, consolidating research, advisory, broking, asset and wealth management ecosystem. It helps retail investors understand where and how to invest smartly and avoid mis-selling and wrong choices.

As the founder of Florintree Advisors and ex-Blackstone partner and co-head of India PE, Mathew has invested in three fintech startups — Cashe, CityCash and Mobikwik.

Commenting on the funding, Ujjwal Jain, founder and CEO, WealthDesk said, “We are very excited about this investment from Mathew Cyriac. Mathew is known to be a far-sighted investor and his association with WealthDesk validates our vision and strengthens our capabilities to disrupt asset and wealth management in Indian with large scale distribution capabilities. We believe there exists a “100 million investors” opportunity in India, and Mathew’s guidance will enable us to seize this opportunity effectively.”

He also stated that the company plans on using the funds to hire great talent, invest in R&D and further build out the technology to expand business, i.e. platformization of asset and wealth management on top of broking, as this will be the future of the Investment Management Industry. On the B2C front, WealthDesk will focus on offering premium WealthBasket portfolios by leveraging its technology and distribution.

Currently, India is home to more than 400 investment tech startups, with companies witnessing a spike in demand due to multiple reasons. According to data from Inc42 Plus, the investment tech market is projected to reach $14.5 Bn by 2025 with an expected CAGR of 22.4%.

A rise in digital infrastructure, growing awareness regarding retail investments and finance, and the enhanced convenience offered by investment tech platforms will trigger this growth. It amply indicates the huge headroom for growth and the massive opportunity that the investment tech sector can leverage.