Cube Wealth funding: raises 500K dollars

Cube Wealth

The Bengaluru based fintech Cube Wealth raises 500K dollars in mid-series funding with participation of its existing investors Singapore-based venture fund Beenext and Japan-based Asuka Holding participating. The company is planning to use funds to expansions of its engineering and growth marketing teams. Earlier in 2018, the company raised about 2 million dollars for expanding its operation for NRIs.

The founder and CEO Satyen Kothari says “I believe this pandemic is an inflection point for digital wealth management as customers will now get accustomed to and demand digital services for everything from KYC to tracking their investments. They will also demand a higher degree of transparency and ethics from their wealth providers. Technology delivers well on these fronts” 

The company was founded in 2018 by Satyen Kothari with an aim to develop an app that is easy to use, provides best advisors, and helps in wealth creation especially to busy professionals. The team comprises of designers, Engineers, Wealth Coaches, Marketers and Operations Experts 

The app provides unique features like Building Your own Perfect Portfolio of investment,  simple portfolio tracking, more options other than Mutual funds, more than 17,000 funds investment options including mutual funds, foreign equities, digital gold, and stock trading, anytime assistance from wealth coaches, etc. 

Founder & CEO of StartupLanes, Shishir Gupta says with changing lifestyle and increasing inflation rate it becomes necessary for us to save more. However, it really becomes difficult for us to analyze and invest in different areas because of a lack of knowledge, time, experience, etc. Here we need someone who can help us, advise us to select or choose the best options to invest according to our interest and income. Cube Wealth provides that platform where we can get the best options with dedicated advisors. Congratulations to the team. Keep growing.

The Indian Mutual Fund industry is estimated to grow by Rs 4.60-4.85 lakh crore in the calendar year 2020. The year 2019 marks the 17th consecutive yearly rise in the industry after a drop for  2 preceding years.