New Delhi-based online investment platform WealthBucket has raised ₹18 crores in pre-Series A round from Northstar Ventures, angel investor Vinod Khatumal, along with other high networth individuals, reported..
The funds raised will be used to boost technology infrastructure while enhancing the user experience on its platform in order to gain more customers. Furthermore, the fintech startup will also be looking to expand its mutual fund product offering to tier 2 and tier 3 cities.
Talking about the platform, Himanshu Jain, Co-Founder of WealthBucket, said, “Our idea is to provide a model where the investor can choose through a multitude of investment options. Our experts create low-commission portfolios for retail investors and will strive to make investment a hassle-free experience.”
Founded by Himanshu Jain and Pulkit Jain in 2018, WealthBucket offers an online platform for its users to invest across mutual funds, SIPs, ELSS and more, with a view of providing systematic investment options to help the users grow their wealth.
With more than 300,000 visitors on the platform, the startup boasts of generating investments to the tune of ₹150 crores.
India’s fintech space is leveraging the growing market for online investment in India. In recent times, there has been a rise in the number of startups leveraging this opportunity and enabling wealth creation among Indian users through various investment options.
Other Indian startups competing with WealthBucket in the online investment space include Paytm Money, Groww, ORO Wealth, Scripbox, INDWealth, among many others.