Kuvera, a tech-based wealth management startup, on Tuesday said it raised $4.5 million in a Series A funding from Eight Roads, the investment arm of Fidelity International.
Alokik Advani, head of Eight Roads Fintech Strategic Investments, will also join the board of Kuvera post the funding, the company said in a statement.
Kuvera, which currently manages more than Rs 3,000 crore in mutual fund investments, will use the first round of funding to build its team and expand its product portfolio. It is a zero-fee mutual fund investment platform that provides an option to set investment goals
The Bengaluru-based Kuvera is increasing its use of artificial intelligence (AI) to help customers secure better returns and enhance its product and service range to reduce the costs.
“With Eight Roads as an investor, we will continue to innovate and expand our advisory offering across financial products. We have an exciting line-up of product releases for this year and are looking to expand our team to build these out even faster,” Gaurav Rastogi, chief executive of Kuvera, said in the statement.
The Fintech Strategic Investments team at Eight Roads recently funded Moneybox, a saving and investment platform in the UK.
First Published: IST