Mar 24, 2020 | AS Team
The 3 month old, Mumbai based, wealth management platform, Fintso has hoisted $2.6 mn in its maiden round from angel investors. A few of the known investors, as informed by the company, include Mankind Pharma CEO Rajeev Juneja, Piyush Gupta the CFO of HT Media Group, Nagarro CEO Manas Fuloria , Deutsche Bank MD Dilip Khandelwal as well as the founder of infochips, Pratul Shroff.
Started by Rajan Pathak and George Mitra, the startup aims to use the funding to design a state of the art wealth management platform that would assist in aiding IFA (independent financial advisors) in boosting connections with clients and also in developing more efficiency in activities, thus helping to enhance productivity. The firm also aims to employ the funds to Fintso to bolster its activities and servicing teams and to provide real-time backing to its clients.
Fintso is basically a business to business to consumer platform which facilitates resolutions to financial advisors by employing new age technologies like robotics, artificial intelligence as well as machine learning and thus assisting intermediaries in advising their clients.
As reported by Tech Circle, The company has stated that while the independent financial advisors are able to curb the wealth management market when it comes to reach yet in terms of capacity of expanding operations, they tend to fall short. This is where the firm endeavors to step in. It aims to reduce this gap by facilitating personalised solutions to intermediaries like portfolios for model investments and financial outlining for clients. The firm enlists banks, financial institutions as well as vertical integrators on its platforms.