Venture capital is flowing into artificial intelligence-driven wealth management startups…
knowledge-baseBy Team M37Labs
Venture capital is flowing into artificial intelligence-driven wealth management startups as middle-income Indians move beyond gold and real estate into financial assets.
New thesis: Startups are using AI to deliver lower-cost, personalised advisory, opening up services once limited to high-net-worth individuals.
For instance:
• Otto Money raised $1.3 million last month and is building an AI-led mutual fund advisory chatbot; it is now eyeing a $10 million raise.Gurugram-based daily savings app Bachatt is in talks to raise $12 million, likely led by Accel.Credit management startup Oolka is also looking to closea $12 million round.
New thesis: Startups are using AI to deliver lower-cost, personalised advisory, opening up services once limited to high-net-worth individuals.
For instance:
• Otto Money raised $1.3 million last month and is building an AI-led mutual fund advisory chatbot; it is now eyeing a $10 million raise.Gurugram-based daily savings app Bachatt is in talks to raise $12 million, likely led by Accel.Credit management startup Oolka is also looking to closea $12 million round.
The Economic Times
AI-led wealthtech rising as VCs bet on a fintech disruption - The Economic Times
As middle-income Indians increasingly diversify beyond real estate and gold into financial assets, the investment thesis is evolving. New-age startups are leveraging AI to build products at lower cost and with greater efficiency.
nltrack.indiatimes.com
The Economic Times
Accel set to lead $12 million round in AI fintech Oolka - The Economic Times
The round comes on the back of a $7 million infusion led by Lightspeed and Z47 last September. The company counts Livspace founder Ramakant Sharma, Meesho’s Vidit Aatrey, and Blackbuck’s Rajesh Yabaji as angel investors.
nltrack.indiatimes.com