Wealthy is a wealth management platform that has secured $5.4 million in its first funding round. This round was led by Falcon Edge’s Alpha Wave incubation Fund and included other investors, including Savrola Lakshmi LLC. Alpha Wave led the round with Rs 20.7 crore, followed by Savrola Lakshmi LLC with Rs 16.38 crore. The rest of the Rs 7.92 crore came from individual investors. Here, we are talking about Wealth Management Platform, Wealthy Secured $5.4 Million Fresh Capital From Alpha Wave.
Here we are discussing the Wealth Management Platform, Wealthy Secured $5.4 Million Fresh Capital From Alpha Wave:
The board has approved a resolution to allot 47,222 CCPS at an issue price of Rs 9,556 each to raise $5.4 million. According to the company filing, the startup will use these fresh proceeds for working capital purposes and market expansion. This startup, founded by Aditya Agarwal and Prashant Gupta, specializes in offering retail investors investment management and tracking tools. The startup provides a financial services platform that uses various technologies to offer its customers
financial advisory, transaction capabilities, and access to wealth management professionals. This investment shows Alpha Wave’s trust in Weathy’s market potential and business model.
The startup claims to have made over Rs 4,500 crore in investments through its wealth management platform. After this round, the existing investor, Alpha Wave, holds the most significant external stake with 24.16 percent. The startup’s loss increased 8-fold in FY23, while its revenue increased by 57.2% and reached Rs 11.82 crore. The startup competes with Deserv, Cube Wealth, and Stable Money.
The startup claims to process investment requests in 24 hours. The company will use this fund to strengthen its platform, secure it, and expand nationwide. Wealthy intends to use this amount to scale up its in-house infrastructure, hire teams for business development, grow to the global market, and advance its technology. Wealthy offers a platform that provides both efficiency and speed in the investment process, helping users make faster and more efficient investments with wealth management.
Conclusion
Wealthy is a Bengaluru-based startup offering a wealth Management platform for faster and more secure investments. The startup got fresh capital of $5.4 million from Falcon Edge’s Alpha Wave Incubation Fund. Other investors attended the funding round, including Savrola Lakshmi LLC. The company plans to use this amount to scale up its in-house infrastructure, hire teams for business development, expand to the global market, and advance its technology.
Alpha Wave led the round with Rs 20.7 crore, followed by Savrola Lakshmi LLC with Rs 16.38 crore, and the rest of the Rs 7.92 crore came from individual investors. After this round, the existing investor Alpha Wave holds the most significant external stake with 24.16 percent. The startup claims that it uses various technologies to offer its customers financial advisory, transaction capabilities, and access to wealth management professionals. The company’s board approved the resolution to allot 47,222 CCPS at an issue price of Rs 9,556 each to raise $5.4 million. The startup competes with Deserv, Cube Wealth, and Stable Money.
