Finnovate Secures $2 Million in Pre-Series A Funding Round
Previously, Finnovate had raised a $1 million funding round in 2023.
Mumbai-based financial planning and wealth management platform Finnovate Financial Services has raised approximately $2 million in a pre-Series A funding round from a group of angel investors, including Ramakant Deshpande and other investors.
The newly raised capital will be deployed towards scaling operations, strengthening its mobile application and technology infrastructure, expanding marketing initiatives, and accelerating business development efforts.
Founded by Nehal Mota and Naveen Singh, Finnovate operates as a hybrid wealth management platform that combines technology-driven financial planning tools with expert advisory services to help professionals manage their investments and achieve long-term financial goals.
The company is a SEBI-registered Investment Advisor (RIA) and has recently received approval to offer Portfolio Management Services (PMS), enabling it to expand its wealth management solutions and serve investors with more comprehensive investment products.
The latest funding follows Finnovate’s $1 million funding round in 2023, marking another step in the company’s efforts to strengthen its position in India’s growing wealthtech ecosystem.
Finnovate is also preparing to launch its Multi Asset PMS Strategy, which aims to provide investors with diversified exposure across multiple asset classes. The platform offers commission-free financial planning solutions across investments, insurance, taxation, debt management, and estate planning through its proprietary FinnFit™ framework.
With increasing demand for professional wealth advisory services among India’s growing investor base, Finnovate plans to enhance its technology capabilities, expand personalised advisory offerings, and build a scalable wealth management platform for retail and affluent investors.