[Funding alert] Fintech startup Assetplus raises $3.6 mn in funding

AssetPlus, a fintech platform has raised $3.6 million in a funding round from Bhupinder Singh (Founder and group CEO of InCred) and Nithin Kamath (Co-Founder and CEO of Zerodha).

Venture Catalysts and angel investors likeSwaroop “Kittu” Kolluri, Amit Nanavati and Kedar Kulkarni, others also participated in this round.

The startup plans to use the funds to expand its business and include more financial products on the platform.

The Chennai-based AssetPlus was founded in 2018 by Awanish Raj and Vishranth Suresh, It focuses on offering digital-first solutions to financial advisors and mutual fund distributors.

“Undoubtedly, we have built a community of users who use the platform every day. Now that we have seen the success of our platform, we are eager to roll out new financial products. We’ll be focusing on product development over the next few years. It will be a challenging yet exciting time for our team”, said, Awanish Raj, Co-Founder, AssetPlus.

It is used by over 1,500 distributors who have added over 2,25,000 users to the platform.

The fintech platform aims to empower over 10,000 distributors and 5,00,000 investors over the next 18 months and provide access to all financial products on a single platform.

“AssetPlus is a fantastic example of the breed of young entrepreneurs who have become a disruptive force in the Indian wealth and lending industries in the last few years. I am incredibly excited about joining at this stage of its journey and look forward to AssetPlus becoming a multi-billion dollar company in the near future”, said, Bhupinder Singh, Founder and CEO of InCred Group.

“Though the Indian mutual fund industry has grown in terms of AUM, there are just 3.3 crore unique mutual fund investors. If the investor base has to grow, you need lakhs of mutual fund distributors that are growing and thriving. What AssetPlus is building can go a long way in enabling distributors to do more, and we are super excited to join them in this journey,” said, Nithin Kamath, CEO of Rainmatter and Zerodha.

About AssetPlus

Starting in 2016, AssetPlus is one of the fastest-growing Fintech platforms in the Mutual Fund industry. They provide comprehensive technology and business development solution to MFDs to increase their digital brand presence and grow their Mutual Fund business online.

With a single solution for distributors and their clients, MFDs will never have to worry about coordinating with KRAs, RTAs, AMCs, or Exchange platforms. Their unique business model ensures that all their services remain free of cost to MFDs and clients.