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Largest Fintech Startup Cube Wealth, which is a wealth creation app today in a report has announced that they have raised an over USD 2 Million in the equity round of funding from some of the prominent international angels and seed investors from the Hong Kong, Silicon Valley, Singapore, Europe, and India.
As of now, the funding is going to be used to grow the depth of the product and to expand its reach in PAN India after the Kolkata and Mumbai.
Cube Wealth is founded by the Satyen Kothari, who is the promoter of Citrus Pay, which was merely sold for the USD 130 Million in the year 2016, and is also claimed as the most significant financial technology cash deal in India.
The startup will be going to use the funding to add the additional asset partners and to develop a network of sales and individual financiers across the country and add marketing partners which can also service customers that demand more performance than the standard mutual fund and the insurance options, the report said.
The app is specifically built for Indian professionals, which is the only automated wealth tech apps that work on the concept of long-term wealth creation.
“We believe the hard-working Indian middle class deserves better wealth creation options and advice and service than the standard insurance policy or mutual fund that is sold to them today.
“All in an app that is simple to use and automates wealth creation for them while letting them have control at all times. Our mission is to make one million Indian professionals financially independent,” Kothari, CEO of the company, is quoted as having said in the statement.
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