VC Fund Investments
Wealthtech startup Univest raises $10-M led by Bertelsmann India Investments
Gurugram-based wealthtech startup Univest has raised USD 10 million (around INR 85 crore) in a Series A funding round led by Bertelsmann India Investments (BII). The proceeds will be used to develop stock market superapp for retail investors.Founded in 2022 by Pranit Arora, Avneet Dhamija and Vikash Agrawal, Univest offers a mobile application that offers retail investors personalised investment recommendations based on their risk tolerance and financial goals. It claims to combine human expertise with advanced algorithms and real-time stock screening, delivering timely and reliable trading recommendations.
Between Sept 2022 and Mar 2023, Univest had raised funding from Trinity Media Group, Pritesh Talwar and others.For FY24, Univest had reported about INR 9 Cr in Operating Income and about INR 9 Cr in Net Loss.
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