Kuvera.in

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Kuvera
TypePrivate
IndustryPersonal Finance, Financial Services
Founded2016
FounderGaurav Rastogi, Neelabh Sanyal
HeadquartersBangalore,
India
ServicesDirect Mutual Funds, Tax Harvesting, Smart Trading, Family Account
AUMRs. 28000 Crore
ParentArevuk Advisory Services Pvt. Ltd.
Websitehttps://kuvera.in

Kuvera.in is an Indian online platform for mutual funds, digital gold, fixed deposits, cryptocurrency exchange & US ETF investment. It also gives loan backed by one's portfolio. It also provides health insurance.[1] It is operated by Arevuk Advisory Services Pvt. Ltd., a company headquartered in Bangalore.[2] Kuvera positions itself as a wealth management platform for individual investors and offers investment in direct mutual funds without any fees or commissions.

History[]

Kuvera was founded in 2016 by Gaurav Rastogi - ex-portfolio manager at Morgan Stanley and Neelabh Sanyal - former vice-president with Axis Capital.[3] Mayank Sharma, cloud architect at Amagi joined as the third co-founder in 2017, assuming the responsibility of head of technology.[2][4]

Kuvera.in derives its name from Kuber (also called Kubera or Kuvera), the lord of riches and treasures according to Hindu mythology.[5]

Kuvera's parent company, Arevuk Advisory Services Pvt. Ltd. registered as investment advisor (RIA) with SEBI (registration no INA200005166) on 19 July 2016 [6]

The website was launched in 2017.[2][7] Over the course of the year, Kuvera introduced the robo-advisory tools on its platform.[8]

Kuvera raised a total of $500,000 in two rounds of angel funding. In March 2018, it raised $250,000 in the second round of angel investment from Baskar Subramanian, co-founder, Amagi, Saket Kumar, Managing Director, Swank Capital among others.[2][9][10]

In April 2019, Kuvera received a Series A investment of $4.5 Million from the lead investor Eight Roads Fintech Strategic Investments,[11][12] the investment arm of Fidelity International for building the team and expanding the product portfolio.[13][14]

The company also launched a group health insurance cover for its users underwritten by Bharti AXA that covers medical expenses.[15]

Mayank Sharma, CTO left the company in February 2021.

Partnership[]

In September 2020, the company established a partnership with Vested Finance to allow its Indian traders to invest in the US stocks including Netflix, Facebook, and Apple.[16][17]

See also[]

Mutual Funds in India

Robo-advisor

References[]

  1. ^ Parikh, Saurin (5 October 2018). "Using the Internet for your financial investments". The Hindu. ISSN 0971-751X. Retrieved 31 July 2019.
  2. ^ a b c d Malik, Yuvraj (3 March 2018). "Mutual funds platform Kuvera raises $250,000 from angel investors". livemint. Retrieved 31 July 2019.
  3. ^ Malik, Yuvraj (23 August 2017). "Mutual funds platform Kuvera ties up with Uber". LiveMint. Retrieved 31 July 2019.
  4. ^ "Kuvera Banks On Gamification To Bring Young Indians Into The Investment Fold". Inc42 Media. 27 July 2020. Retrieved 4 December 2020.
  5. ^ children, Subhamoy Das Subhamoy Das is the co-author of "Applied Hinduism: Ancient Wisdom for Today's World " He has also written several; Hinduism, young adult books about. "Kuber the Lord of Riches". Learn Religions. Retrieved 31 July 2019.
  6. ^ "SEBI | Investment Adviser". www.sebi.gov.in. Retrieved 31 July 2019.
  7. ^ "Kuvera :: Wealth Management Simplified". kuvera.in. Retrieved 31 July 2019.
  8. ^ "Robo-advisory startup Kuvera looks to tap into direct mutual funds market". VCCircle. Retrieved 31 July 2019.
  9. ^ "Kuvera raises $250k from angel investors". Moneycontrol. Retrieved 31 July 2019.
  10. ^ "Online financial planning platform Kuvera raises angel funding". VCCircle. 3 March 2018. Retrieved 31 July 2019.
  11. ^ "Wealth Management Startup Kuvera Raises $4.5 Mn From Eight Roads". Inc42 Media. 16 April 2019. Retrieved 31 July 2019.
  12. ^ "Kuvera raises $4.5m in Series A funding". Eight Roads. Retrieved 1 August 2019.
  13. ^ "Eight Roads writes $4.5 mn cheque to digital investment platform Kuvera". VCCircle. 16 April 2019. Retrieved 31 July 2019.
  14. ^ April 2019, 17th. "Indian wealthtech Kuvera raises $4.5m". FinTech Futures. Retrieved 1 August 2019.
  15. ^ Kaur, Avneet (30 September 2020). "Kuvera introduces group health insurance for its users". mint. Retrieved 4 December 2020.
  16. ^ "Mutual funds platform Kuvera now offers Indian investors to invest in US stocks". mint. 2 September 2020. Retrieved 4 December 2020.
  17. ^ Borate, Neil (3 September 2020). "Investment apps offer integrated platforms for global, local stocks". mint. Retrieved 4 December 2020.

External links[]

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