Cashvisory, a Kolkata-based financial advisory platform, has raised Rs 1.2 crore in a pre-seed funding round led by SucSEEDIndovation Fund.
The round also saw participation from EvolveX, We Founder Circle, and a group of distinguished angel investors, including Ashok Agrawal, Upasana Koul, Deepika Asthana, and Upasana Kaul.
Empowering individuals from diverse financial backgrounds
Co-founded by Arpita Sinha and Utkarsh Chaudhary, Cashvisory aims to empower individuals from diverse financial backgrounds. The platform stands out with its digital DIY approach, offering a unique journey that simplifies complex financial concepts through gamification and real-time what-if analysis.
Utkarsh Choudhary, Co-Founder and CEO of Cashvisory, said,” With Cashvisory, young individuals no longer need to miss out on critical compounding opportunities simply because they lack guidance on where to begin or access to the best advice. Our mission is to democratize quality financial advice, ensuring affordability and accessibility for every young professional, a privilege previously limited to high-net-worth individuals (HNIs).”
What is the purpose of fundraising?
Utkarsh Choudhary said the newly raised funds are set to propel Cashvisory's go-to-market strategy, which includes the introduction of tailored investment portfolios and the development of an AI-driven mobile app.
The startup claims to have experienced a 350% growth in its user base over the past six months and is targeting to increase its customer base to 10,000 by mid-2024, coinciding with the planned app launch.
Who are the investors?
EvolveX, an initiative by We Founder Circle, is dedicated to accelerating high-potential startups, offering them funding, mentorship, and access to a broad network of experienced mentors and entrepreneurs.
We Founder Circle itself is a global community that invests in and supports early-stage startups. On the other hand, SucSEEDIndovation Fund, a SEBI-regulated venture capital fund, focuses on early-stage tech initiatives and has a history of investing in over 65 startups.
Bhawna Bhatnagar, Co-Founder of EvolveX, stated, “Cashvisory brings a fresh perspective to financial empowerment, offering a user-friendly platform that simplifies complex financial concepts. What sets this platform apart is its commitment to making financial decisions easy for users, ensuring accessibility for everyone, regardless of their financial background.At EvolveX, our commitment extends beyond the financial investment, ensuring that Cashvisory thrives in its mission to revamp financial decision-making in India."
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