Fund Raise: Leveraging tech for wealth creation

Noida-based Nivesh is a mobile-first digital platform helping distributors of mutual funds and other financial products to deepen their penetration in the country. The platform enables distributors to expand their businesses and bring in new clients, who can now be serviced for different AMCs and hence experience improved portfolio performance. The company is founded by Anurag Garg, who had earlier co-founded mutualfundsindia.com and exited after acquisition by Icra.

Recently, this fintech startup raised $1.6 million led by IAN Fund. The round also saw participation from other co-investors including angel investors from Indian Angel Network, LV Angel Fund, Vir Mehta and Raghav Kapur.