INR 100 Crore - Minance plans to raise (Series - A) funding
1st April, 2019 : Minance, India’s leading wealth management startup is looking to raise INR 100 Crore in Series A funding round, as it aims to become the one-stop destination for all investment-related services. Founded by Anurag Bhatia in 2014, Minance was one amongst the four startups that pitched in the recently concluded fourth edition of “Morning Pitch” programme initiated by the Big Four accounting and advisory firm Deloitte. The startup, which has aggressive expansion plans in the coming 5 years, presented its business model to explore the funding and partnership opportunities.
The rapidly growing FinTech firm focuses on developing quantitative models for the Indian financial markets and is up for a technology upgrade soon and is looking to expand its user base about five times in the next couple of years. The Bengaluru based company is also planning to expand its footprint
by opening satellite offices in Hyderabad, Pune, and Chennai.
Bootstrapped and profitable, Minance claims to have 300 percent annual growth in revenue since its inception.
It currently offers a multitude of investment solutions including derivatives, equities, unlisted shares, mutual funds, and a mutual fund based derivative product called Assets Pay Cash. The company also offers Tax management solutions for its partners. Minance recently tied up smallcase to offer investments on their platform.
At present, Minance has successfully established itself as the only FinTech startup which caters to investment management needs of the underserved market of SMBs and individual investors. In a span of five years, the company has grown to manage a sizeable clientele of over 3,000 partners with an Asset Under Management (AUM) of over $41 Mn (INR 300 Cr).
After providing top class investment and taxation services, Minance is all set to venture into insurance and credit segments as well. The startup intends to use the funds to be generated in scaling up the business and expanding across geographies.
Commenting on the plan, Anurag Bhatia, Founder & CEO of Minance said, “Minance has found its niche in the investment market, and now we are ready to take it to the next level. We intend to use the funds to expand our wings into credit, insurance, and international equities market.”
Bootstrapped and profitable, Minance claims to have 300 percent annual growth in revenue since its inception.
It currently offers a multitude of investment solutions including derivatives, equities, unlisted shares, mutual funds, and a mutual fund based derivative product called Assets Pay Cash. The company also offers Tax management solutions for its partners. Minance recently tied up smallcase to offer investments on their platform.
At present, Minance has successfully established itself as the only FinTech startup which caters to investment management needs of the underserved market of SMBs and individual investors. In a span of five years, the company has grown to manage a sizeable clientele of over 3,000 partners with an Asset Under Management (AUM) of over $41 Mn (INR 300 Cr).
After providing top class investment and taxation services, Minance is all set to venture into insurance and credit segments as well. The startup intends to use the funds to be generated in scaling up the business and expanding across geographies.
Commenting on the plan, Anurag Bhatia, Founder & CEO of Minance said, “Minance has found its niche in the investment market, and now we are ready to take it to the next level. We intend to use the funds to expand our wings into credit, insurance, and international equities market.”
.jpg "Caim By Arelang: India's First CandyCeuticals Company Offering Nutraceuticals in Irresistibly Tasty Treats")
