Private Equity

PE Fund Investments

Wealth mgmt startup Fintso looking raise $10-M

Business Standard  

Fintso, a startup focused on financial advisors in the wealth management space, is looking at raising at least USD 10 million from venture capital funds by late-March or early-April. The money will be used for expansion, hiring talent and also for product innovation. The API-based platform-as-a-service for financial advisors and their clients was launched by George Mitra, who was the chief executive of Avendus Wealth, and Rajan Pathak, a wealth management veteran. Fintso gives retail investors access to multi-products, digital execution, and advisory support and now caters to over 3,400 independent distributors/agents, servicing 15 lakh retail clients having assets of INR 1.4 lakh crore. The company received initial funding of USD 3 million from angels and family offices, including Kanwaljit Singh of Fireside Ventures, Nikhil Vora of Sixth Sense, Brijesh Agarwal who co-founded Indiamart, and Piyush Gupta, who is the group CFO at HT media, Dilip Khandelwal (global CIO of Deutsche Bank), and some of the large family offices.