Validus Fintech Services Pvt Ltd has successfully obtained seed funding from AUM Ventures, an Abu Dhabi Global Market (ADGM)-based VC Fund that is concentrated on India, as well as other strategic investors.
The company will utilise the recently acquired funds to support its product development, business, and market expansion initiatives, thereby enabling it to establish a robust presence in a market that has historically been dominated by legacy competitors.
This funding is timely for India's fintech sector, which has been experiencing a surge in activity in terms of mergers and acquisitions (M&A) and funding. Developments in the sector that are noteworthy include.
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Validity Fintech is constructing digital market infrastructure for the Investment Management Industry, which encompasses Mutual Funds, Alternates, PMS, Retirement solutions, Corporate markets, and more. It endeavours to offer a comprehensive array of fund administration solutions, including recordkeeping and transfer agency services, investor relationships, distribution support, analytics, and insights, among others. The objective is to establish a completely new market infrastructure that employs a marketplace approach to integrate a diverse array of stakeholders.
Chetan Mehta, Founding Partner at AUM Ventures, said: "The AMC and AIF industries in India have been witnessing staggering growth. Current solutions to service these industry verticals are built on old legacy infrastructure and there is a strong need for a new-age digital infrastructure to cater to the demands especially given the growing digital ecosystem. We are excited to partner with Validus Fintech and its experienced team to enable bringing in a transformative solution for the industry."
Ganesh Venkatachalam, Founder of Validus Fintech, said: "Our platform is crafted to revolutionize the investment landscape by fostering a banking-like ecosystem within the Mutual Fund and Investment Management industry and advancing user experience through innovative technology."
About Validus Fintech
Founded in 2021 by Ganesh Venkatachalam, Validus Fintech Services Pvt Ltd, based out of Hyderabad, has been set up to redefine Recordkeeping & Transfer Agency services for the Alternate Investment Management industry, MFs, Pension and other products.
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