Fintech company MoneyPlanned raises over ₹2.5 crore from Inflection Point Ventures, others

• MoneyPlanned is an Indian personal finance platform that helps clients automate their financial goals.
  
• The round was led by Inflection Point Ventures, with participation from California-based startup accelerator Expert Dojo, Joseph R Saviano – partner at Dot Capital, New York, and Sameer Khan, executive director corporate treasury, DBS Bank, Singapore.
  
• MoneyPlanned currently has 10,000 weekly active users and 35,000 monthly active users, with the platform collectively tracking financial goals worth ₹ 6,500 crore.
  

Fintech company MoneyPlanned on Monday raised over ₹2.5 crore in a seed funding round led by Inflection Point Ventures. The other investors who participated in the round include California-based startup accelerator Expert Dojo, Joseph R Saviano – partner at Dot Capital, New York and Sameer Khan – executive director corporate treasury, DBS Bank, Singapore.

Founded in July 2020 by Sameer Shashank Gattupalli and Nikhila Putcha, MoneyPlanned is a fintech platform assisting clients to automate their financial goals.

The funds raised will be used for marketing and user acquisition, deepening the tech infrastructure and expanding the tech and business teams.

“India has a large base of salaried people with more youngsters joining the workforce every year. Financial planning is not a luxury anymore but a necessity, that's one of the biggest lessons from the Covid pandemic. MoneyPlanned’s platform is built to offer a personalised service at scale. At IPV, we invest in businesses that have the ability to scale while maintaining a healthy business matrix,” Vinay Bansal, Founder CEO, Inflection Point Ventures, said.

MoneyPlanned currently has 10,000 weekly active users and 35,000 monthly active users, with the platform collectively tracking financial goals worth ₹ 6,500 crores.

The founders aim to build an advanced financial planning platform powered through technologies like AI and blockchain that performs like an in-person financial planner.

According to a survey conducted by Securities and Exchange Board of India, only 27% of India's population is financially literate. The ratio of advisors to investors is only 1:76000, which can be solved using technology, states MoneyPlanned.

SEE ALSO: Amazon Great Indian Festival sale announced – card offers, cashback, new launches and more
Call of Duty: Warzone Mobile announced — here’s how to pre-register on Android
Anil Agarwal – how a Bihar boy who knew only ‘yes’ and ‘no’ went onto list the first Indian company on London Stock Exchange