Ashish Kashyap, Former CEO of Ibibo on Monday announced: “his new venture IndWealth has secured $30 million from Steadview Capital.”
The company in a statement said: “The wealth technology startup IndWealth which will start it operation in January next year has secured $30 million from Hong Kong-based hedge fund Steadview Capital.”
“The firm will use artificial intelligence and machine learning to allow users to manage their investments, liabilities, future cash flows and taxation” company said.
The statement stated “The company is also in the process of building a team of certified finance counselors across India that will be dedicated to each user family. The startup will offer its services on the web and as an Android and iOS app.”
In a statement issued by Ravi Mehta, Founder of Steadview Capital said “Globally, this space has seen some innovative applications of tech, especially artificial intelligence, and machine learning, combined with a human touch to change the way wealth is managed for individuals. Further, the scope of wealth management is no more restricted to the top of the pyramid. We see a massive opportunity for technology to democratize wealth management in India across income levels.”