Financial Advisory Platform Cashvisory raises INR 1.2 Cr in its Pre-Seed Round from EvolveX, SucSEEDIndovation Fund and Others

Brand plans to launch an AI-driven mobile app, further enhancing its digital financial ecosystem

Financial Advisory Platform Cashvisory successfully raised its Pre-Seed Funding worth INR 1.2 Crore. The fund round led by SucSEEDIndovation Fund saw the participation from EvolveX, We Founder Circle, and distinguished Angel Investors like Seasoned tech Entrepreneur Ashok Agrawal (MD, RPI eSolutions Pte Ltd), serial Entrepreneur Upasana Koul (Co-Founder & Director at Eleveight) angel investors Deepika Asthana & Upasana Kaul (Co-founders – Eleveight) and other.

Kolkata based startup is founded by Arpita Sinha (CBO) and Utkarsh Chaudhary (CEO)with the mission to empower individuals, regardless of their financial knowledge and background. Cashvisory introduces a completely digital DIY platform,unlike traditional investment platforms. Cashvisory provides a guided journey for users, simplifying complex financial concepts with a gamified approach and real-time what-if analysis.

EvolveX identified Cashvisory’s potential during its premier accelerator program, Cohort 4, launched in August 2023. The recognition led to EvolveX’s investment in Cashvisory’s Pre-Seed round, reflecting the accelerator’s commitment to supporting innovative startups with transformative ideas. The funds raised will enable Cashvisory to roll out its go-to-market strategy, offering tailored investment portfolios, including stocks and small cases. In addition, the company plans to launch an AI-driven mobile app, further enhancing its digital financial ecosystem.

Commenting on the investment, Bhawna Bhatnagar, Co-Founder of EvolveX, stated, “Cashvisory brings a fresh perspective to financial empowerment, offering a user-friendly platform that simplifies complex financial concepts. What sets this platform apart is its commitment to making financial decisions easy for users, ensuring accessibility for everyone, regardless of their financial background.At EvolveX, our commitment extends beyond the financial investment, ensuring that Cashvisory thrives in its mission to revamp financial decision-making in India. We believe in the potential of this dynamic partnership to make a lasting impact on the financial well-being of individuals across the country.”

UtkarshChoudhary, Co-Founder and CEO, Cashvisory, expressed”WithCashvisory, young individuals no longer need to miss out on critical compounding opportunities simply because they lack guidance on where to begin or access to the best advice. Our mission is to democratize quality financial advice, ensuring affordability and accessibility for every young professional, a privilege previously limited to high-net-worth individuals (HNIs).”

He further added “This pre-seed funding secured will be instrumental in enabling us to execute our go-to-market strategy seamlessly. The financial support arrived precisely when needed, empowering us to deliver personalized investment portfolios encompassing stocks and smallcases. Importantly, it positions us strategically to launch our highly anticipated AI-driven mobile app, marking a pivotal moment in advancing our mission.”

Speaking on their investment reasons; Vikrant Varshney Co-Founder & Managing Partner of SucSEEDIndovation Fund, said “Cashvisory resembles a financial GPS, a tech-enabled guidance that charts the user’s path towards wealth-building. It leverages technology and automation and minimizes overheads associated with traditional advisory services. Robo-advisory services are gaining momentum as an alternative to traditional wealth management models. According to Statista Report, Global assets under management (AUM) in this market are projected to reach around $56.58 Bn by 2027, with a 14.01%

CAGR between 2023 and 2027. Factors such as digital technology adoption and demand for user-friendly financial solutions contribute to this growth.”

In the last 6 months preceding the fundraise, Cashvisory has seen 350% growth in its userbase and has helped several users make their first investments. The brand is targeting to launch its app by mid of 2024 and looking to take its customer base to 10,000.

About EvolveX

EvolveX is an early-stage program founded by We Founder Circle, that has been providing high-impact acceleration to early-revenue startups from various sectors since its inception in 2021. With a mission to take startups to the next level, EvolveX offers its extensive network of seasoned mentors and successful entrepreneurs to guide startups on their journey to success. The program offers a range of benefits, including one-on-one mentorship sessions with handpicked angel investors and industry experts, upfront funding of $30K, and $200K worth of credits. EvolveX is committed to providing a continuous opportunity for startups, and applications are accepted on a rolling basis. To know more, visit: https://www.evolvexaccelerator.com/

About We Founder Circle

Established in 2020 in Mumbai, We Founder Circle is a global community of successful founders & strategic angels that have come together to push the start-up industry and steer it towards aggressive growth. WFC invests USD 50K- USD 2Mn amount in early-stage start-ups that are fueled with ambition, sustainability, and a strategic approach. WFC provides seed funding, business development, and global networking opportunities to start-ups as it believes early-stage start-ups need a lot beyond just financial support to become scalable and stable. It has already enabled USD 12 mn worth of investments across 33 start-up deals in the year 2021 alone and invested in 70+ startups since incorporation. To know more, visit: https://www.wefoundercircle.com/

About SucSEEDIndovation Fund

SucSEEDIndovation Fund (SIF) is a SEBI regulated AIF Cat-1 Venture Capital Angel Fund with clear focus on early-stage tech seed initiative. General Partners of the Indovation Fund have 100+ years of cumulative experience within technology, fund management, and start-up ecosystem and have already invested in 65+ startups. SIF attempts to support Indian Innovation for mass needs in the following Six (6) sectors – EdTech, FinTech, Health-tech, Security &RegTech, EnterpriseTechSaAS, Gaming Sports and MediaTech and Digital Economy & Emerging Tech opportunities.