- The startup will use the funding to accelerating product development and hiring talent across the USA and India.
- In July 2020, Vested Finance had raised $120K in seed funding from TechStars and Western Union Accelerator.
- To date, It has raised over $4 million in funding.
California-based fintech startup Vested Finance, on February 4, raised $3.6 million (or about Rs 26 crore) in seed funding from investors including US-based Moving Capital, Ovo Fund, and TenOneTen Ventures. Existing investors Venture Catalyst and Inflection Point Ventures also participated in the funding round.
The startup will use the funding to accelerate product development and hiring talent across the USA and India, the official statement said.
Before this round, Vested Finance had raised $120K (equivalent to Rs 90 lakh) in seed funding from global investment firm TechStars and Western Union Accelerator. Following the current round, To date, It has raised over $4 million in funding.
Founded in 2018 by Viram Shah, Darwin Arifin, and Yinghan Lin, Vested Finance (Vested Finance Inc.) registered with the Securities and Exchange Commission (SEC) allows Indian investors to invest in the US stock market. It offers both free and premium plans to its customers.
For better customer convenience, It has partnered with more than 25 stockbrokers, fintech firms, and wealth management firms, including Axis Securities, ICICI Bank, Kuvera, Angel Broking, and 5Paisa.
Commenting on the latest fundraise, Viram Shah, CEO & Co-founder, Vested Finance, said, “Individuals in India have been contributing to the top and bottom line of international companies for decades, but have never had the chance to create wealth by investing in them. Our goal is to build the easiest US investing platform for Indian investors, and our growth to date has proven that interest in the opportunity is strong and increasing.”
The startup claims that it has successfully processed trades worth more than $100 million last year. Half of the Indian investors use Vested Finance to invest in the US equity market, it said.
Apoorva Ranjan Sharma from Venture Catalyst, who is the early investor in the startup, said “We see a lot of potential for disruption in its unique value proposition and are confident that the team at Vested Finance will continue to grow and scale, as it makes wealth creation simpler and more accessible to more investors across the globe.”
Besides Vested Finance, Venture Catalyst also invested in several other fintech startups such as BharatPe, HomeCapital, Nupay, etc.
Vested is bringing this cross-border investment opportunity to India and beyond, allowing local investors to diversify globally by spreading out their risk, and we’re excited about the possibilities,” said Gil Elbaz, Partner at TenOneTen Ventures.
Vested has its offices in Mumbai, Bengaluru, and California. It competes with Webull, Robinhood, Winvesta, Stockal, among several others.