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From Buying Gold To Investing Through AI: 6 Wealth Management Platforms Transforming How Indians Invest

From Buying Gold To Investing Through AI: 6 Wealth Management Platforms Transforming How Indians Invest

Wealth management is integrating digital investment at a fast pace

Customers prefer digital investing due to convenience and no-to-low cost

Inc42 presents a list of the 6 wealth management startups from India

As Diwali season approaches, there’s a great exuberance in the air across India, and among the many days of Diwali, a special place is reserved for the celebration of wealth and success. Dhanteras is considered the most auspicious day for investing in gold, but these days investments have taken a new form all together and wealth is no longer just about gold — at least not for many urban Indians. 

As across commerce, healthcare or transportation, Indians have changed how they invest their wealth and assets. No longer is it about trusting that one manager, but relying on data and a host of other indicators to make decisions. Often a computer is taking these decisions for investors with the rise in automated wealth management. 

A report by Deloitte India predicts that Indian wealth management network is all set to boom and that by the end of 2020, 21 paise out of every rupee invested in mutual funds will likely be through online portals. This major shift to digital investments can be attributed to the superior customer experience, less time and the zero-to-low cost of trading in equities. 

Moreover, the digital wealth management space also provides varied features like investment advisories, curated investment options, algo-trading, back testing, and free access to research reports. All this is making wealth management and investments much frictionless for busy urban Indians. And many startups are making the most of this opportunity thanks to the rise in adoption of fintech services. 

Going From Gold To Wealth Management Startups This Dhanteras

Cube Wealth Cube Wealth logo

Mumbai-based Cube Wealth is an automated wealth tech platform offering 17 investment options including stocks, gold, P2P lending and various other assets through a single window. Its latest investment product lets Indians invest in stocks listed in the US, Europe and other countries, which was earlier a complicated process for investors in India. 

Founded in 2018 by Satyen Kothari, former founder of Citruspay, the startup is backed by prominent investors such as Beenext, Asuka Holding, 500 Startups. The fintech platform enables individuals to invest in foreign stock up to $250K per year via the Indian government’s ‘LRS‘ (liberalised remittance scheme) route. 


Groww Logo

Bengaluru-based Groww was founded in 2018 by former Flipkart employees Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal. The startup aims to make first-time mutual funds investment easier and simpler through its mobile apps and a web platform.

Besides offering investors an objective evaluation of all the mutual funds available in the market, Groww is looking at educating investors about the various risks involved in each portfolio through Groww Assist. The company’s SmartSave product is an investment product fashioned like a bank account, where customers can withdraw their investments. 


INDWealth logo

Gurugram-based fintech startup INDwealth is a personal financial advisory agent, which offers advice across asset classes, loans, and tax management. The startup empowers its clients with the right data to organise and track their wealth across investments, loans, expenses and taxes. Based on the information provided, INDWealth’s platform provides machine learning-driven recommendations to improve their financial future and cash flows.

Founded in 2018 by serial entrepreneur Ashish Kashyap, Pratiksha Dake and Varun Bhatia, INDWealth has also enrolled certified wealth advisors that get mapped to every user family. Further, the company also launched a wealth advisor facing web application thereby curating the communication and feedback loops between the customers and advisors.


Kuvera logoBengaluru-based Kuvera offers a ‘free-to-use’ web-based direct mutual fund investment platform, which it claims enables over100K users get access to a range of investment tools. Through its services, the company helps customers save money and reach their financial target. The company claims to manage over INR 5K Cr in mutual fund investment through over 95 transactions across 700 cities.

Founded in 2016 by Gaurav Rastogi, Neelabh Sanyal and Mayank Sharma, the startup also tailors financial advice based on the customer’s needs. The company also allows users to switch from regular mutual funds to direct mutual funds, lowering the cost of investment.


Clearfunds logo

Founded in 2016 by Kunal Bajaj, Clearfunds is a direct mutual fund investment platform that relies on data analytics and automated processes to deliver the investment experience at the lowest possible cost. The company also offers a fully-automated investment advisory service ‘Smart Portfolio’, which has been designed to make investing easy for everyone.

Clearfunds, which was acquired by MobiKwik in 2018, uses algorithms to build, monitor and rebalance diversified mutual fund investment portfolios, which fulfill the customer’s checklist—.stated goals, time horizon and risk tolerance. The company manages over $45 Mn worth assets under advisory. It also provides access to over 3000 direct mutual fund schemes across all 36 mutual fund companies.



Bengaluru-based Scripbox is a digital mutual fund investment startup that simplifies investments for salaried professionals by narrowing down the process. The company selects the funds through a quantitative and qualitative algorithm, which helps to eliminate selection biases arising out of vague advice and a plethora of information available through varied sources.

Founded in 2012 by Ashok Kumar, Sanjiv Singhal, Scripbox claims to manage over INR 1.1K Cr worth of investments from its customer base spread across 1.2K Indian cities and towns. It also accepts unified payments interface (UPI) as a mode of payments for these investments, much like many of the other investment platforms these days. 

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Inc42 Staff

Aman is a recent postgraduate in English Journalism. He currently writes on startup ecosystem and technology. You can write to him at [email protected]

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