Wealthtech Startup Univest Eyes $16 Mn Funding from Investors BII, Innoven Capital

Univest

Three points you will get to know in this article:

  • Wealthtech firm Univest is reportedly in discussions to raise $16 million (approximately INR 135 crore) as part of its Series A fundraising round in a mix of equity and debt.
  • Innoven Capital is slated to inject $3 million into loan financing.
  • Univest intends to launch an advisory-first brokerage platform under a new corporation called Univest Broking using the new funding.

Univest Plans Capital Raising as Its Series A Funding Round

Univest logo

Wealthtech firm Univest is reportedly in talks to earn $16 million (approximately INR 135 crore) as part of its Series A fundraising round.

Univest is a mobile app that provides investors with a range of investing alternatives. It was founded in 2022 by Arora, Avneet Dhamija, and Vikash Agrawal. It offers users tailored investing advice based on their risk tolerance and financial objectives.

The next round, which would include both equity and loan infusions, is expected to be led by Bertelsmann India Investments (BII), with participation from Innoven Capital, according to persons familiar with the situation.

Innoven Capital is anticipated to invest $3 million in debt financing, according to the newspaper.

What Will Univest Do with New Funds?

With the new funding, Univest intends to launch an advisory-first brokerage platform under the name Univest Broking.

Responding to media inquiries, Univest founders and CEO Pranit Arora stated, “We can’t confirm or deny anything at this time.” We will provide more details once things are official.”

Univest Major Income, Subsidiaries

The startup’s revenue comes from a combination of transaction and subscription fees. Univest charges a tiny commission on each investment transaction initiated through the site.

Univest operates two wholly-owned subsidiaries: Uniresearch, a research analyst arm, and Uniapps, a wealth advice arm, both of which are registered with SEBI (the Securities and Exchange Board of India).

Trading & Investment Growth in India, Steps by SEBI

This phenomenon occurs at a time when traditional trading and investing are at an all-time high among investors, as are the growing backlashes against crypto profits.

Earlier this month, markets regulator SEBI warned the public against unlawful online virtual trading and gaming platforms, addressing the growing threat of online platforms offering fantasy games to the public based on stock trading data from listed businesses.

Following that, CoinSwitch, a local crypto exchange, launched a new tool called ‘SmartInvest’ to assist newcomers in reducing the risks associated with cryptocurrency trading.

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