Cashvisory, a financial advisory firm, secured INR 1.2 crore for its pre-seed funding led by SucSEED Indovation Fund. EvolveX, We Founder Circle, and notable angel investors such as experienced tech entrepreneur Ashok Agrawal (MD, RPI eSolutions Pte Ltd), angel investors Deepika Asthana & Upasana Koul (Co-founders – Eleveight), and others participated in the funding round.
With the capital obtained, Cashvisory will be able to implement its go-to-market plan and start providing customised investment portfolios that include small cases and equities. The business also intends to release a smartphone app powered by AI, expanding its digital banking ecosystem, as reported by CXOtoday.
Commenting on the investment, Bhawna Bhatnagar, Co-Founder of EvolveX, stated, “Cashvisory brings a fresh perspective to financial empowerment, offering a user-friendly platform that simplifies complex financial concepts. What sets this platform apart is its commitment to making financial decisions easy for users, ensuring accessibility for everyone, regardless of their financial background. At EvolveX, our commitment extends beyond the financial investment, ensuring that Cashvisory thrives in its mission to revamp financial decision-making in India. We believe in the potential of this dynamic partnership to make a lasting impact on the financial well-being of individuals across the country.”
With its gamified approach and real-time what-if analysis, Cashvisory simplifies complicated financial topics for users through a guided trip.
Utkarsh Choudhary, Co-Founder and CEO, Cashvisory, expressed ”With Cashvisory, young individuals no longer need to miss out on critical compounding opportunities simply because they lack guidance on where to begin or access to the best advice. Our mission is to democratize quality financial advice, ensuring affordability and accessibility for every young professional, a privilege previously limited to high-net-worth individuals (HNIs).”
Speaking on their investment reasons; Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said “Cashvisory resembles a financial GPS, a tech-enabled guidance that charts the user’s path towards wealth-building. It leverages technology and automation and minimizes overheads associated with traditional advisory services. Robo-advisory services are gaining momentum as an alternative to traditional wealth management models. According to Statista Report, Global assets under management (AUM) in this market are projected to reach around $56.58 Bn by 2027, with a 14.01% CAGR between 2023 and 2027. Factors such as digital technology adoption and demand for user-friendly financial solutions contribute to this growth.”
A Razorpay-incubated start-up, founded by Arpita Sinha and Utkarsh Chaudhary, Cashvisory is launching the first gamified roboadvisory platform in India. With its automated, scalable solution, it hope to make wealth planning accessible to every household.