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Niyo acquires wealth-tech startup Goalwise

29Jul By Press Trust of IndiaNo Comments

ACQUISITION

Niyo acquires wealth-tech startup Goalwise

Jul 28, 2020: Digital banking fintech startup Niyo has acquired mutual funds investment platform Goalwise in a cash-and-stock deal to expand its product offering, a release said on Tuesday. The Bengaluru-based company did not disclose the financial value of the acquisition. "Niyo co-founders Vinay Bagri (CEO) and Virender Bisht (CTO) have picked up majority stakes in the start-up, along with Niyo, in a cash-and-stock deal for an undisclosed amount," the release said. The Goalwise founding members will join Niyo''s leadership team and will be running Niyo Wealth as an independent vertical within Niyo, it added. The COVID-19 pandemic has significantly increased the demand for digital banking and related services. The release further said the acquisition is in line with Niyo''s...

Infosys secure $1.5 billion deal with Vanguard, Biggest in its History

20Jul By AdityaNo Comments

BUSINESS

Infosys secure $1.5 billion deal with Vanguard, Biggest in its History

Indian IT company Infosys secures a 10 year IT deal with Vanguard for $1.5 billion, which is Infosys' biggest deal in its working history. As part of the deal, Infosys will provide design, development, deployment, and support to Vanguard's full-service defined contribution (DC) business. This strategic partnership will deliver a technology-driven approach to plan administration and fundamentally reshape the corporate retirement plan experience for Vanguard sponsors and participants. Vanguard is the largest DC asset manager in the U.S. with $1.3 trillion+ in assets. It is the 2nd largest provider of mutual funds and ETF in the world. Infosys is a global leader in next-generation digital services and consulting, with deep expertise in helping companies deploy transformative technol...

16Apr By NitishNo Comments

FUNDING

Kuvera Raises $4.5 million in Series A funding

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 ...

Savart – A 20 Year Old Boy dream that Storms investment World

3Apr By AnkitaNo Comments

Story

Savart – A 20 Year Old Boy dream that Storms investment World

If we told you that a 20 year old could be capable of creating a company called Savart and garner over INR 25 crore within 7 months, would you believe us? Most of you would probably not. Of course, you’d be gravely mistaken if you didn’t. Sankarsh Chanda, a 20 year old, is not doing typical 20 year old things. He isn’t fretting over assignments and college attendance, rather he is doing something that impacts the entire investing world. He is the founder and CEO of Savart, an investment research company that aims to make people choose better investment choices, and make better financial decisions as time passes by. So, what exactly is Savart? Combining the best of robo analysis and traditional research, Savart drives customers towards better investment decisions by making the...

India’s Mutual Fund & Stock Investment Platform Orowealth Acquires the WealthTrust Platform

19Jan By AdityaNo Comments

ACQUISITION

India’s Mutual Fund & Stock Investment Platform Orowealth Acquires the WealthTrust Platform

Orowealth, one of India's leading Direct Mutual Fund platforms, recently announced that it has acquired the WealthTrust platform, including the product and all its users. Orowealth is a one-stop solution for all your investment needs from investing in stocks and direct mutual funds, to financial planning, goal advisory and more. WealthTrust, also one of the India's fastest growing 'Zero Commission Wealth Management' platforms, always aimed to make investment simple and hassle-free. Mr. Nisarg Gandhi, co-founder and CEO of WealthTrust said to Pixr8 team that we evaluated several partners before finally joining forces with Orowealth, which stood out as the best option for their users. The two companies now have a combined user base of 3 lakh registered users, and their assets...

Top 5 Performing Equity Mutual Funds in India, Know the Details

23Jul By Gauri SinghNo Comments

Market

Top 5 Performing Equity Mutual Funds in India, Know the Details

Mutual funds are a popular investment source for investors. For investors with limited knowledge, time or money, mutual funds can provide simplicity and other benefits with valuable returns. An equity fund is a mutual fund that invests principally in stocks. It can be actively or passively managed. How do equity mutual funds work? In these type of funds, you give money to a fund, which invests it in stocks. Since the amount of money it manages goes up and down every day, the fund deducts a small amount from your money every day such that, on an average, the annual deduction comes to the above percentage. Here are the top 5 performing equity mutual funds in India that the investors can invest in: 1. Tata Digital India Fund - Launched on 4th December 2015, Tata D...

29Jan By NitishNo Comments

FUNDING

Mutual Fund and SIP based Investment Platform Groww Raises Funding

Bengaluru based Mutual Fund and SIP based investment platform Groww raises an undisclosed seed funding from Y Combinator, Mukesh Bansal (Myntra Founder) and Ankit Nagori, former chief business officer of Flipkart. The company will use the fresh round to expand its technology team and also introduce new products for its customers. “Our long-term vision is to build a modern financial services company out of India, accessible to everyone. That means anything that users get from a bank, should be able to get it faster and cheaper on Groww with 10 times better user experience”, said Lalit Keshre, Co-founder & CEO. Founded by ex-Flipkart executives, Groww leverages data science to make investing simple and transparent. It also hosts several communities that help investors make the right...

Mutual Fund Investment Platform Raises Seed Fund

29May By Press Trust of IndiaNo Comments

FUNDING

Mutual Fund Investment Platform Raises Seed Fund

Nivesh.com, a mass market mutual fund investment platform, today said it has raised angel funding from a group of entrepreneur turned investors. The investors in this round include Rahul Gupta, CEO of Right Global Infosolutions and former president at private equity firm Sonoma Management Partners, Sandeep Shroff, CEO of Silicon Valley-based MyStartUpCFO.com and former head of investor relations at Infosys & others. "The amount raised will be used for network expansion, reaching out to more customers and for improving the investment experience," said Anurag Garg, founder and chief executive, Providential Advisory Services, the Noida-based company which owns Nivesh.com. The company, however, did not disclose the amount it has raised. The platform will adopt an omni channel a...

Moneyfront – An Online Platform That Helps You To Invest in Mutual Funds Without Any Middleman

25Jan By NitishNo Comments

Story

Moneyfront – An Online Platform That Helps You To Invest in Mutual Funds Without Any Middleman

In 2013, SEBI introduced a new concept of investing in Mutual funds. Aptly named as ‘Direct plans’ it offers an alternative to investment in mutual funds where investors can skip the middlemen and invest directly with the fund house. An investor friendly option, Direct plans enable the investor to earn up to 1.5% more returns on their investments, because the distributor commissions are not deducted from the invested values. However, despite its benefits the awareness regarding Direct plans of mutual funds is really low. Few who are aware perceive it to be a time consuming and complicated task. “One of the advantages of Direct Plans is that these come with a lower expense ratio.” The Solution MoneyFront is a key to the act of investing in MFs through direct plans. Being new in the ma...

Now Purchase Mutual Funds Through FreeCharge

20Jan By NitishNo Comments

News

Now Purchase Mutual Funds Through FreeCharge

New Delhi, Delhi, India- FreeCharge, India’s leading digital payments platform, today announced the launch of Mutual Funds on its platform in partnership with Reliance Mutual Fund. With the launch of the facility, users can seamlessly invest in a Money Market Mutual Fund that targets higher returns than those available on savings bank accounts. FreeCharge, known for its 10-second payments, is offering instant redemption of mutual funds at the click of a button. The entire process from investing to redemption is paperless – all the customer needs is his PAN or Adhaar card number. Customers also benefit from zero transaction charges and zero charges at redemption. To invest through FreeCharge, all a KYC compliant customer needs to do is enter his PAN number, a few basic details & b...