Private Equity Angel Investments
Financial planning platform Finnovate raises $2-M from angel investors
Source Finnovate (opens in a new tab)Entrackr (opens in a new tab)Dealroom (opens in a new tab)
Mumbai-based financial planning platform, Finnovate Financial Services has secured approximately USD 2 million in a pre Series A funding round from a group of angel investors including Ramakant Deshpande and others.Founded in 2007 by Nehal Mota and Naveen Singh, Finnovate recently received its Portfolio Management Services (PMS) license.The latest funding proceeds will be deployed towards scaling operations, enhancing the mobile application and technology infrastructure, expanding marketing efforts, and strengthening business development initiatives.
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For FY25, Finnovate had reported about INR 4 crore in Operating Income and about INR 4 crore in Net Loss.