The Noida based fintech startup Nivesh raised $1.6 million in a pre-Series A round from IAN Fund. Other co-investors also participated which included angel investors from Indian Angel Network and LV Fund, and angel investors Vir Mehta and Raghav Kapur.
The startup, Nivesh will be utilizing this funds to enhance its product portfolio, hire talented people, enhance its technology and scale up its partners.
The statement said that Nivesh is focusing on serving customer’s financial needs with a portfolio of products, with a main aim of insurance and lending.
Anurag Garg, Founder and CEO, Nivesh, said, “We are looking at making Nivesh a full-stack platform, taking care of all financial needs of our customers. We will continue to integrate all possible products towards that end. The aim is to increase the penetration of financial products like mutual funds, corporate FDs, insurance, etc., in India’s Tier 2/3/4 cities. We, at Nivesh, follow a hybrid model of digital-first approach, with human connection to reach people in every corner of the country.”
Nivesh is a holistic mobile-first digital platform where it helps manage mutual funds and other financial products distributors to deepen their penetration in the country. The platform helps distributors to expand their businesses and bring in new clients and eventually get AMCs from them.
Nivesh claims to enable easier access of its platform through more Indian languages adding to the platform which will help us cater more customers on-board with us. Nivesh’s technology is evolving but has ensured a stable foundation, ensuring the business grows rapidly.