CashRich, a Mumbai-based wealth management startup has now secured Rs. 7 crore in a Series C funding round from the UK-based angel investors.
The funds are going to be used to accelerate its technology platform along with automating some investment management steps like portfolio diversification, rebalancing, and asset allocation. This, in turn, is believed to help personalize and enhance the experience for its users.
Founded in 2017 by Sougata Das, the startup provides a simple investment platform that offers personalized wealth management advice and enables its users to invest in mutual funds. As of now, it offers over 6000 schemes to choose from, according to one’s personal requirements.
Its app is available on both the iOS and Android platform. The startup claims that it has around 90,000 users on both the Android and iOS platforms.
Speaking on the latest investment, Sougata Basu, Founder of CashRich, said, “We are grateful to our existing investors from the UK who have trusted our idea and execution. We will use this additional capital to further simplify the personal wealth management process for thousands of Indian investors.”
At present, Fisdom, Groww, and Paytm Money are some other wealth management startups with which CashRich is competing.
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