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Last Updated : Oct 22, 2018 01:13 PM IST | Source: PTI

Cube Wealth raises $2 mn in equity

The company said the investment will be used to grow the depth of the product and expand reach in more markets in India after Mumbai and Kolkata.

Fintech company Cube Wealth, a wealth creation app, has raised over USD 2 million in equity funding from prominent international angel and seed investors from Silicon Valley, Hong Kong, Europe, Singapore and India, a statement said Monday.

The company said the investment will be used to grow the depth of the product and expand reach in more markets in India after Mumbai and Kolkata.

Cube Wealth is founded by Satyen Kothari, promoter of Citrus Pay, which was sold for USD 130 million in 2016, claimed as the largest fintech cash deal in India.

The start-up will use the funding to add additional asset partners and develop a network of sales and marketing partners and independent financial advisors across the country that can service customers that demand more performance than the standard mutual fund and insurance options, the statement said.

Specifically built for Indian professionals, Cube Wealth is Indias only automated wealth tech app that works on the concept of disciplined long term wealth creation.

"We believe the hard-working Indian middle class deserves better wealth creation options and advice and service than the standard insurance policy or mutual fund that is sold to them today.

"All in an app that is simple to use and automates wealth creation for them while letting them have control at all times. Our mission is to make one million Indian professionals financially independent," Kothari, CEO of the company, is quoted as having said in the statement.
First Published on Oct 22, 2018 01:08 pm
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