Wealth management platform Wealthy has raised $7.5 million in a funding round led by Alpha Wave Incubation (AWI). Backed by Abu Dhabi investment vehicle ADQ’s venture platform, AWI is managed by Alpha Wave Global (formerly Falcon Edge Capital) & Savrola group, Venture Highway, Good Capital and Emphasis Ventures also participated in the round.
Wealth management platform Wealthy was founded by Aditya Agarwal and Prashant Gupta in 2015. The company will use the funds to penetrate deeper into the Indian market and expand globally, including in the Middle East, the Bengaluru company.
“We are seeing signs of a structural shift in the market, where investors want to manage their life’s savings through a diversified pool of products,” said Aditya Agarwal, Wealthy’s cofounder.
Through their Wealth Management platform, they enable professionals to grow wealth for investors. Thousands of partners across the country are using it to focus on their clients, earn a fair share of revenue, and build a second income.
“Legacy institutions provide a poor client experience and have flawed incentive structures for wealth management professionals. We are changing the status quo with an ethos that believes in empowering these professionals rather than replacing them. With this fundraise, we will be able to double down on our investments in technology and penetrate deeper into the Indian market,” said Prashant Gupta, Co-Founder of Wealthy.