MoneyPlanned Raises Over INR 2.5 Crore Seed Fund The funds raised will be utilized towards marketing and user acquisition, deepening the tech infrastructure and expanding the tech and business teams
By Teena Jose
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MoneyPlanned, fintech platform, has raised over INR 2.5 crore in a Seed funding round led by Inflection Point Ventures. The round also saw participation from expert Dojo, Joseph R Saviano (partner at Dot Capital, Newyork), Sameer Khan (executive director corporate treasury, DBS Bank, Singapore) along with a clutch of other strategic angel investors. The funds raised will be utilized towards marketing and user acquisition, deepening the tech infrastructure and expanding the tech and business teams.
"Thousands of urban millennials are using MoneyPlanned to plan & invest towards their financial goals. Our mission is to create the best platform for automating financial fitness (with our patented tech) and to enable unparalleled access to a modern ecosystem of financial products and services," Sameer Shashank Gattupalli, founder and CEO, MoneyPlanned.
Founded in 2020 by certified investment planners, Sameer Shashank Gattupalli (founder and CEO) and Nikhila Putcha (co-founder and chief growth officer), MoneyPlanned is a fintech platform helping over 100,000 millennials automate their financial goals. With their unique technology, they are democratizing access to comprehensive financial management and hyper-personalizing financial planning for millions of people in the middle-class segments.
"India has a large base of salaried people with more youngsters joining the workforce every year. Financial planning is not a luxury anymore but a necessity, that's one of the biggest learning from the Covid pandemic. Thus, from a market opportunity perspective, MoneyPlanned's platform is built to offer a personalised service at scale. At IPV, we invest in businesses that have the ability to scale while maintaining a healthy business matrix," said Vinay Bansal, founder and CEO, Inflection Point Ventures.
As per reports, India's fintech market stands at $400 billion and with over 84 million salaried employees the sector is only expected to grow further, with people looking to grow their wealth. The industry today stands at over $150 billion market for Robo-advisory and online financial products and is expected to grow at 26 per cent CAGR and with 87 per cent adoption rate and is projected to hold a value of $480 billion by 2025.
