[Funding alert] Finnovate raises nearly $1 mn in Pre-Series A round funding

A pre-series A funding round of about $1 million was raised for Finnovate, an end-to-end ecosystem that makes investing simple and streamlines tracking so that one may empower themselves to reach their chosen financial goals.

With the funds raised, Finnovate will be able to scale both its technology-driven wealth management platform and Finnversity, a platform for financial literacy, in order to assist many Indian families in achieving total financial security.

The company is founded by Naveen Singh and Nehal Mota, Finnovate is Holistic Financial Planning and Wealth Advisory platform.

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“Over the years, we saw three major challenges; Indian consumers at large made random and unplanned decisions with money, lacked the right financial knowledge and were getting mis-sold. A few years were lost in wrong investment products. The end result was that most Indian families were not prepared to handle financial risks and their investments didn’t match their financial goals. Through our wealthtech platform, we want Indians to invest in sync with their life goals, make informed decisions with money and reach financial freedom at the earliest,” Nehal Mota, co-founder, Finnovate, said.

Working professionals, high-net-worth people, and families can access personalised financial life planning and research-backed investment portfolios through the Finnovate platform.

“Investing in sync with life goals can happen by putting in place a financial plan and preparing a financial plan used to be a very time-consuming and cumbersome process using various templates and calculators. At Finnovate, we have used technology to simplify and standardize this process so much that now a financial plan can be created in less than 10 minutes. Key features of Finnovate’s platform will allow families to invest together and consolidate all their existing investments in one place,” said, “Naveen Singh, co-founder at Finnovate.

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About Finnovate

Finnovate is a platform for holistic wealth advisory and financial planning. They are committed to changing how Indians receive personal finance advice.