Volt Money, a fintech startup providing instant secured loans against mutual funds, has $1.5 million in a pre-Seed funding round led by Titan Capital, All In Capital, Praveen Jadhav of Raise Ventures, Aditi Kothari of DSP Adiko Holdings, Gemba Capital, Kunal Shah of Cred, and Ashish Kehair & Rahul Jain from Nuvama Wealth.
According to the company's statement, The startup would utilize the raised funding to recruit key personnel for product development and to establish beneficial partnerships.
Volt Money empowers mutual fund investors with quick access to cash in just 10 minutes. Enjoying favorable terms like low interest rates, interest-only EMIs, and zero pre-payment charges, it disrupts instant secured loans for 10 crore investors with a 40 lakh crore investment. Easily meet short-term cash requirements without compromising long-term financial goals.
Lalit Bihani, Co-Founder & CEO of Volt Money, said, "We're at the cusp of disruption of instant secured loans in India. With the advanced digital infrastructures for KYC, account aggregator, and pledging capabilities, we're ideally positioned to seize a unique & very large opportunity. We're grateful for the trust our investors have placed in us."
Bipin Shah of Titan Capital, said ,"Volt Money's innovative approach to offer seamless liquidity against financial savings is an essential service for today's investors. The early traction from customers and partners demonstrates a strong market fit for Volt Money's platform."
The Association of Mutual Funds in India (AMFI) indicates that 55% of mutual fund investments are liquidated within the first two years, robbing investors of the opportunity for compounding returns over time. Volt Money seeks to rectify this by offering attractive loan terms such as low interest rates, interest-only EMIs, and zero prepayment charges.
Volt Money is demonstrating industry leadership with its frictionless digital approach to securing loans against mutual funds. As Praveen Jadhav of Raise Ventures observes, "We recognize the immense potential of Volt Money's mission to empower 10 crore investors to obtain instant secured loans, setting the stage for long-term wealth creation. The experienced founding team at Volt Money brings a strong combination of skills and expertise to spearhead this innovation."
Kushal Bhagia, Founder of All in capital says “Over the past five years, the number of active mutual fund investors in India has boomed from 10 million to 46 million and the retail participation in the Indian stock market has grown from 15% to 25%. A significant share of the average Indian’s savings is now locked up in the equity markets. However when they need liquidity for working capital or for household expenses, their options are still high interest rate uncollateralized loans. Volt Money is unlocking liquidity out of Indian’s savings by offering them extremely affordable Loans against Mutual funds and Securities - that too all online in a few simple clicks. Lalit, Bharat and Ankit bring a very good combination of Product, underwriting and technical expertise to the table and we are excited to partner with them as they unlock the power of this asset class for millions of Indians.“
Volt Money's journey began in April 2022, led by Lalit Bihani, Ankit Agarwal and Bharat Lamba, three IIT Delhi graduates who have shared a friendship since 2008. In January 2023, they onboarded Bajaj Finserv Limited, India’s leading NBFC to launch a seamless digital journey for end-end process. Today, the company has successfully served customers across more than 80 cities with loans ranging from Rs. 25,000 to Rs. 2 Crores.