Univest, a leading wealthtech startup, is reportedly in discussions to secure $16 million (approximately ₹135 crore) in its upcoming Series A funding round. The round is expected to be led by Bertelsmann India Investments (BII), with participation from Innoven Capital through a combination of debt and equity financing. According to sources cited by Economic Times (ET), Innoven Capital is likely to contribute $3 million as part of the debt financing.
Strategic Plans for Growth
The fresh capital will enable Univest to:
- Launch a brokerage platform under the new entity, Univest Broking, focusing on advisory-first solutions
- Enhance its wealth management offerings with personalized investment advice based on users’ financial goals and risk tolerance
Pranit Arora, Univest’s co-founder and CEO, commented:
“We can’t confirm or deny anything at this stage. We will be sharing more information once things are official.”
About Univest
Founded in 2022 by Pranit Arora, Avneet Dhamija, and Vikash Agrawal, Univest operates as a mobile app providing diverse investment opportunities. The platform’s core features include:
- Customized investment advice tailored to users’ financial objectives
- Revenue generation through transaction and subscription fees
- Small commission charges for investment transactions initiated on the platform
Univest’s operations are supported by two SEBI-registered subsidiaries:
- Uniapps – Wealth advisory services
- Uniresearch – Research analysis services
Industry Context and Regulatory Developments
This fundraising effort comes at a time of significant growth in traditional trading and investing, especially as investor sentiment shifts away from cryptocurrency. Additionally, the Securities and Exchange Board of India (SEBI) recently issued warnings against unauthorized virtual trading platforms offering fantasy games based on stock market data.
Univest’s Competitive Edge
By leveraging advanced advisory tools and personalized services, Univest aims to distinguish itself in India’s growing wealth management market. The planned launch of Univest Broking will further solidify its position as a comprehensive investment platform, offering robust solutions for both new and seasoned investors.
This strategic move is expected to enhance Univest’s presence in the rapidly evolving financial technology landscape, addressing the increasing demand for reliable and insightful investment advisory services in India.
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