Kuvera, a mutual fund investment platform raises $4.5 million Series A funding from Eight Roads, the investment arm of Fidelity International.
This company will use funding to build its team and expand its product portfolio and Mr. Alokik Advani, head of Eight Roads Fintech Strategic Investments, will join the board of Kuvera.
Bengaluru based Kuvera manages more than Rs 3,000 crore in mutual fund investments using artificial intelligence (AI) to help customers secure better returns and enhance its product and service range to reduce the costs.
Kuvera is a zero-fee mutual fund investment platform that provides an option to set investment goals.
“With Eight Roads as an investor, we will continue to innovate and expand our advisory offering across financial products. We have an exciting line-up of product releases for this year and are looking to expand our team to build these out even faster,” Gaurav Rastogi, chief executive of Kuvera, said in the statement.
The Fintech Strategic Investments team at Eight Roads recently funded Moneybox, a saving and investment platform in the UK.