Orowealth Raises $1.6 Million in Series A for New Product Innovation & Excellent Customer Experience
Rendering zero commission products along with personalized financial advice, India’s first zero commission Direct Mutual Fund Platform and a leading Fin-tech company, Orowealth raises$1.6 million in Series A funding. Ushered by Powerhouse Ventures, the funding sawcollaboration from Money Forward Inc, (Japan-based fin-tech Company), a US VC Social Capital, B Dash Ventures (largest VC in Japan) and prestigious angel investors Anand Chandrasekaran, ex CPO- Airtel and Dinesh Agarwal, Founder, Indiamart along with existing partners M & S Partners and GSF. Post the funding, Sri Peddu of Powerhouse Ventures will join Orowealth’s Board while Money Forward will be the Board Advisor at Orowealth.
The fund raised in the event will be invested towards new product innovation and in strengthening research capabilities in the coming months and forge alliances with partners who wish to offer tech-enabled wealth products to their customer base. Excited about the event, Nitin Agrawal & Vijay Kuppa, Co-Founders, Orowealth say, “We want to thank our new & existing investors for their belief and confidence in our team & business model. Our customers have trusted in Orowealth and this event gives us the opportunity to serve them even better”. Yogesh Powar, Co-Founder & CTO, said “We are also looking to scale up our technology and data sciences capability to provide highly personalized investing tools and a high quality customer experience.”
Seeing Indian Financial Industry facing a tectonic shift driven by technology and innovation, Orowealth is a new generation AI platform as a forefront to personal wealth management catering low cost and high quality solutions and advice. Established in 2016, Orowealth is the result of three innovative minds from IIT-IIM alumni, Nitin Agarwal, Vijay Kuppa and Yogesh Powar. The firm aimed to make investors richer by offering financial tools for execution, analysis and advice on various products such as MFs, stocks, Bonds, insurance and so on. Orowealth’s long partnership with financial institutions like Sharekhan & Online Trading Academy has provided with wealth management solutions to clients.Rajesh Sawhney, GSF added “As Indians become wealthy, they will seek to manage and grow their wealth using new-generation AI platforms like Orowealth. Orowealth’s founding team is its biggest asset”.
Currently, Orowealth has the longest track record of managing over 500 crore of assets under advisory and targets to cross across 3000 crore of assets by end the of 2019. “We are also looking to scale up our technology and data sciences capability to provide highly personalized investing tools and a high quality customer experience,” concludes Yogesh Powar, Co-Founder.
Read more news: