California-headquartered online investment platform Vested Finance has raised $12 million in a Series A funding round. The Series A funding round was led by Ayon Capital.
Investors such as 9Unicorns, Ankur Warikoo, Dhruvil Sanghvi, and Saumil Parekh, alongwith some existing investors such as Tenoneten, Ovo Fund, Wedbush Ventures, IPV, and Upscale also took participation in this funding round.
Vested Finance is planning to utilize the fresh funds in following ways:
- to scale its team globally,
- expand its product suite, and
- launch more products in the cross-border space.
Vested Finance was founded in August 2018 by Viram Shah, Darwin Arifin , and Yinghan Lin. Vested is a financing platform that allows Indians investors to make commission-free investments in US equities, and also undertake fractional investing.
The company has already processed more than $250 million in transactions last year, and tripled the deposits on the platform in the same.
More than 35 online brokerages, fintechs, and wealth management platforms, including Kuvera, 5Paisa, and Angel Broking has tied-up with the company.
EXECUTIVE OPINION:
"Today, the location where we are born determines the kind of wealth creation opportunities we get access to and that is unfair. Most of our portfolios lack global diversification," said Viram, Co-founder and CEO of the startup.
"We want to enable investors across the globe to access global wealth creation opportunities in an easy and cost-effective manner," he added.
