Pune-based venture capital firm Windrose Capital made an investment of about $6,00,000 in Nivesh.com, a Noida-based financial products distributor. The round also witnessed participation from Lets Venture Angel Fund and a clutch of marquee investors.
Windrose Capital made the investment from its ‘The Next Billion Fund’ which has a corpus of about $30 million for investments across 50-60 start-ups.
“Nivesh.com, a platform built to serve marginal investors from Tier II and III cities with limited or no access to formal public financial markets. It employs a network of independent agents in these cities,” the company said in a statement.
The funds invested will be used to penetrate new geographies and expand the customer base in the existing ones.
Nivesh.com currently has more than ₹100 crore AUM.
“We are very optimistic about the Indian economy over a long-term horizon and strongly believe that financial inclusion will be fuelling this growth along with a few other critical sectors. By helping small investors, safely and transparently invest in a wide variety of regulated financial instruments, Nivesh.com is building a trustworthy ecosystem for first-time investors,” Rohit Goyal, Managing Partner of Windrose Capital, said.
“This infrastructure will allow for India’s next billion to become active contributors and participants of the growing economy,” he added.
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