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Deserve Investments Procures $ 7 Million

CIO Insider Team | Thursday, 2 September, 2021
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A wealth management startup called Deserve Investments, a SEBI (Securities and Exchange Board of India) registered mutual funds distributor has raised $ 7 million from Elevation Capital and Matrix Partners India at its maiden institutional fundraising.

The early fund acquisition is expected to elevate the startup’s growth for the coming two to three years.

While that funding serves that purpose, it’s also said to be used to develop the startup’s technology platform as well as come to terms with the regulatory requirements.

Stepping into the startup’s background, it’s said to have been established in 2020 by two of its co-founders, Sahil Contractor and Vaibhav Porwal, who are former IIFL Wealth managers. The startup serves Indian working professionals with a tech-oriented financial platform and expert advice on how to manage money also comes with the package. Additionally, it plans to offer high-quality pre-IPO opportunities as well.

Another part of its aim is that it wishes to solve the quality wealth management and portfolio advisory in the country, as it realized the number of high-quality advisors in India. It believes that there are about 400 advisors in every million households in the country compared to the 5000 in the US. Accordingly, ResearchAndMarkets.com's June 2021 study on wealth management in India, indicates that India's high-net-worth investors–mostly men and working professionals–have a comparatively high demand for asset management services.

the startup plans to offer portfolio management advisory and also branch out other financial services, indicating that it plans to add financing and risk advisory as well

Meaning, the wealth management in the country is very competitive. As India is one among the countries in the world that have high regard for wealth and gold seems to be the VIP among others here. In that regard, a startup in this space provides digital alternative credit to its consumers, and CIO Insider recently announced that the company has raised $ 12 million in Series A funding. This startup is none other than Indiagold, which, like Jar, is a fledgling company that helps customers manage their gold digitally.

Indiagold's ground-breaking doorstep gold loan and gold locker solutions provide an unparalleled customer experience while allowing the company to offer credit at lower rates.
Indiagold's rapid growth is due to its superior product capabilities and the extensive knowledge of its well-known founders.

Thanks to the startup's two key offers, consumers may now store their gold in a safe deposit box and borrow against their gold holdings. The startup assesses its customers' creditworthiness using gold and provides APIs to banks and other lenders eager to penetrate a hitherto untapped market. Consumers can now store their gold in a safe deposit box and borrow against their gold assets thanks to the company's introduction of two important items.

Therefore, wealth management in the country is tended with high priority as it is quite competitive, giving more reason by Dezerve Investments is setting its bars high.

Along the way, the startup plans to offer portfolio management advisory and also branch out other financial services, indicating that it plans to add financing and risk advisory as well.

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