Univest, a fintech startup, has raised approximately Rs 3.8 Crore or $478K from angel investors like Aakash Anand and Deep Bajaj, Mohit Bajaj, Saahil Naryar, Ajay Pwah, Rahul Gambhir, among others.
Univest stated in a press release that the proceeds will be used to launch new products and build teams across functions.
Univest, a stock market platform for retail investors, was founded by Pranit Arora & Avnet Dhamija. Univest launched five days ago and already has around 4,000 active retail investors.
It plans to offer commodities and mutual funds as well as startup investments. The startup is also exploring expansion opportunities in Southeast Asian markets like Indonesia. Univests operates within a highly competitive market where several high-profile players such as Zerodha, IndWealth and Paytm Money are trying to capture more market share.
Economic pitch report shows that fintech was the most popular segment for funding in H1 2022, with 139 deals totaling $2.8 billion. Fintech startups raised $231 millions in 18 deals last month. This includes Jify’s $10,000,000 round, Tartan’s $4.5 Million round and Backspace Tech’s seed round, among others.
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