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Today, the funding has been raised for new startups, AssetPlus, the new fintech platform; this funding was led by Bhupinder Singh of InCred and Nithin Kamath of Rainmatter. Also, the participation of round funding from Venture Catalysts, Swaroop “Kittu” Kolluri, Amit Nanavati, Kedar Kulkarni, and some other existing investors. This fund will be utilized to expand its business and include more financial products on the platform.
In 2018, Assetplus focused on offering a digital-first solution to financial advisors and mutual fund distributors, founded by two IIT Mardars graduates, Awanish Raj and Vishranth Suresh.
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“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.
“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, the co-founder.
Nithin Kamath, CEO of Rainmatter and Zerodha, adds, “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 growing and thriving. But today, distributors lack the tools and support to grow their businesses, deal with compliance requirements, and support investors. 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.”
