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<ul><li><keyword id="15023564" type="General" weightage="100" keywordseo="moneyplanned" source="Orion">MoneyPlanned</keyword> is an Indian personal finance platform that helps clients automate their financial goals. </li><li>The round was led by <keyword id="7036829" type="General" weightage="80" keywordseo="inflection-point-ventures" source="Orion">Inflection Point Ventures</keyword>, with participation from California-based startup accelerator <keyword id="15023565" type="General" weightage="50" keywordseo="expert-dojo" source="Orion">Expert Dojo</keyword>, Joseph R Saviano – partner at Dot Capital, New York, and <keyword id="241332" type="General" weightage="50" keywordseo="sameer-khan" source="Orion">Sameer Khan</keyword>, executive director corporate <keyword id="6374832" type="General" weightage="50" keywordseo="treasury" source="Orion">treasury</keyword>, <keyword id="133737" type="General" weightage="50" keywordseo="dbs-bank" source="Orion">DBS Bank</keyword>, Singapore. </li><li>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. </li></ul> 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,” <keyword id="6342098" type="General" weightage="50" keywordseo="vinay-bansal" source="Orion">Vinay Bansal</keyword>, 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 <keyword id="6355630" type="General" weightage="50" keywordseo="securities-and-exchange-board-of-india" source="Orion">Securities and Exchange Board of India</keyword>, 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: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/amazon-great-indian-festival-sale-best-deals-and-offers/articleshow/94004700.cms">Amazon Great Indian Festival sale announced – card offers, cashback, new launches and more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/call-of-duty-warzone-mobile-announced-heres-how-to-pre-register-on-android/articleshow/94297494.cms">Call of Duty: Warzone Mobile announced — here’s how to pre-register on Android</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/anil-agarwal-profile-vedanta-resources-listing-in-london-stock-exchange-gujarat-semiconductor-chipset-plant/articleshow/94297057.cms">Anil Agarwal – how a Bihar boy who knew only ‘yes’ and ‘no’ went onto list the first Indian company on London Stock Exchange</a>

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

<ul><li><keyword id="15097710" type="General" weightage="20" keywordseo="Angel-investment-platform-IPV" source="Orion">Angel investment platform IPV</keyword> has 7,295 investors on its platform.</li><li>Average investments of these angel investors is anywhere between Rs 5-7 lakh a year</li><li>More than 10% of IPV’s investments are in startups spread across Tier 2 and 3 towns</li></ul>Technology has democratised many businesses that were earlier the preserve of a few. Angel investing is one such business that has now become relatively more transparent compared to earlier times and even investors with a ticket size of ₹2.5 lakh a year can now become angel investors. The fallout of this is that great businesses and smart founders now have many more avenues to raise capital without the usual runaround. It is this philosophy that is the driving force behind the four-year-old <keyword id="15097711" type="General" weightage="20" keywordseo="angel-funding-platform" source="Orion">angel funding platform</keyword> <keyword id="7036829" type="General" weightage="20" keywordseo="Inflection-Point-Ventures" source="Orion">Inflection Point Ventures</keyword> (IPV). Vinay Bansal, CEO and founder of IPV, discovered some obvious pain points that both investors and startup founders faced for the smallest of funding rounds. While the process was tedious for the founders, lack of clarity was a big issue for angel investors. These problems also resulted in a low success rate of <keyword id="2023759" type="General" weightage="20" keywordseo="startups-in-india" source="Orion">startups in India</keyword>. IPV set out to resolve all three issues with its own unique propositions. “We decided to solve these problems and started investing in a few startups with a sharp focus so that the founders could grow. We also provided them with mentorships. Some of these startups include the likes of Milk Basket and Fitso that went on to become very successful.” IPV decided to do things differently to improve the success rate of startups in India, which also improved returns for investors. In less than four years, IPV has invested in 140 companies and the IRRs (internal rate of returns) are significantly higher compared to many others. India has spawned many unicorns in the last three years, as the pandemic led to innovative models to solve problems thrown up by the lockdowns. India saw 44 unicorns emerge in 2021 and the trend continues in 2022, albeit at a slower pace. Interestingly, the startup bug is not just restricted to the big cities. Today, there’s a startup in each of the 625 districts of India and 50% of these come from Tier 2 and Tier 3 towns. IPV is one of the few players that has had its eyes on such players since 2020. Nearly 10% of its portfolio companies come from the hinterland. Born in 2019, this platform has funded some very interesting startups that nobody was willing to bet on – these were from India’s Tier 2 and Tier 3 cities, but were solving problems that are unique to the country’s hinterland. The venture platform is agnostic to sector, stage and geography in which the startup is in. What matters to IPV is the quality of the founder, idea and valuation. “Great people can come from anywhere and we took bets on startups nobody was betting on back in 2020. We go by great ideas that can come from anywhere, which is why we funded BluSmart in Ahmedabad and Multibhashi from Jaipur. These founders are sharp, smart and hardworking to their core,” explains Bansal. Thanks to ventures like IPV, television shows like Shark Tank and a media blitzkrieg are helping more startups in Tier 2 and Tier 3 towns. What also makes IPV unique is that its model of raising capital is more broad-based, which is why its investments are not held hostage by any funding winter or moves made by the Federal Reserve. “We want to continue to democratise investments for average Indians who have a ticket size of ₹5 lakh.” The platform has 7,295 investors on its platform and it continues to grow. “The way we set ourselves up was to be different from others. We were able to fund even during the pandemic and all these investments are between Series B and D today. We went against the market in 2021 and started exiting from our investments. We don’t work on the dry powder concept as we get funds from salaried investors. Over the last couple of months we have cut million dollar cheques. Winters are good for us as we get access to good companies at better valuations. We have to overcome our fear of investing when others are not,” says Bansal. The average ticket size that the angel investors cut out each year ranges between ₹5-7 lakh. IPV’s investors come from not just India but also from other countries. To invest, all that the angel investors need to do is fill a form and get started. The process is equally easy for startups that need funding. IPV replies to founders within 20 days of sending an application. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-headed-lower-as-rbi-intervention-unlikely-to-be-aggressive/articleshow/94473133.cms">Rupee headed lower as RBI intervention unlikely to be “aggressive’</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/indian-markets-take-a-breather-after-huge-sell-off-on-monday/articleshow/94468819.cms">Indian markets take a breather after huge sell-off on Monday</a>

Inflection Point Ventures’ focus on great founders takes it to Tier 2 & 3 towns

The <keyword id="6354977" type="ORGANIZATION" weightage="80" keywordseo="Supreme-Court">Supreme Court</keyword> today sought responses from senior <keyword id="6356617" type="POSITION" weightage="80" keywordseo="bjp-leader">BJP leader</keyword> L K Advani and others on a plea against dropping of criminal conspiracy charge against them in the Babri mosque <keyword id="6367653" type="PERSON" weightage="80" keywordseo="Demolition">demolition</keyword> case. 
 A bench headed by <keyword id="42759" type="POSITION" weightage="80" keywordseo="Chief-Justice">Chief Justice</keyword> H L Dattu issued notices to the BJP leader and the CBI on a separate plea filed by Haji Mahboob Ahmad, one of the petitioners in the Babri mosque case. 
 
 
Ahmad, in his plea, has alleged that CBI may dilute its stand in the wake of the change in the government at the Centre. 
 Earlier, the CBI had moved the apex court against <keyword id="48834" type="ORGANIZATION" weightage="80" keywordseo="Allahabad-High-Court">Allahabad High Court</keyword>'s verdict on dropping conspiracy charge against Advani and 19 others in Babri mosque demolition case. 
 
 
During the brief hearing, CBI today sought time for filing a fresh affidavit on delay in filing the appeal and on the merits of the case. 
 
The court allowed the plea of the probe agency and granted four weeks time to file the response. 
 
The apex court had earlier pulled up CBI for the delay in filing an appeal against the Allahabad High Court verdict. 
 
 
CBI has challenged in the Supreme Court the May 21, 2010 order of the high court, which had upheld a special court's decision to drop the charge against the leaders. 
 In its verdict, the high court had upheld the special <keyword id="6362306" type="ORGANIZATION" weightage="80" keywordseo="CBI-court">CBI court</keyword> order dropping conspiracy charge against Advani, <keyword id="6361634" type="PERSON" weightage="80" keywordseo="Kalyan-Singh">Kalyan Singh</keyword>, <keyword id="42642" type="PERSON" weightage="80" keywordseo="Uma-Bharti">Uma Bharti</keyword>, Vinay Katiyar and Murli Manohar Joshi. 
 
The others against whom the charge was dropped included Satish Pradhan, C R Bansal, Ashok Singhal, Giriraj Kishore, Sadhvi Ritambhara, V H Dalmia, Mahant Avaidhynath, R V Vedanti, Param Hans Ram Chandra Das, Jagdish Muni Maharaj, B L Sharma, Nritya Gopal Das, Dharam Das, Satish Nagar and Moreshwar Save. 
 
Bal Thackeray's name was removed from the list of accused persons after his death. 
 
While upholding the special court's order, the high court 
 
 While upholding the special court's order, the high court had allowed CBI to proceed with other charges against Advani and others in a <keyword id="2788382" type="ORGANIZATION" weightage="80" keywordseo="Rae-Bareily-court">Rae Bareily court</keyword>, under whose jurisdiction the case falls. 
 
The May 2010 order of the high court had said there was no merit in CBI's revision petition against the May 4, 2001 order of the special court which had directed dropping of criminal conspiracy charge against them. 
 
 
There are two sets of cases -- one against Advani and others who were on the dais at Ram Katha Kunj in Ayodhya on December 6, 1992 when the Babri mosque was demolished, while the other case was against lakhs of unknown 'karsevaks' who were in and around the disputed structure. 
 
CBI had charge sheeted Advani and 20 others under sections 153A (promoting enmity between classes), 153B (imputations, assertions prejudicial to national integration) and 505 (false statements, rumours etc. circulated with the intent to cause mutiny or disturb public peace) of the IPC. 
 
It had subsequently invoked charges under section 120B (criminal conspiracy) of IPC which was quashed by the special court whose decision was upheld by the high court. 
While upholding the special court's order, the high court had said CBI at no point of time, either during the trial at Rae Bareily or in its revision petition, ever stated that there was offence of criminal conspiracy against the leaders.

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

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Inflection Point Ventures’ focus on great founders takes it to Tier 2 & 3 towns

Malini Bhupta

New Supreme Court notice to Advani, 19 others in Babri demolition case

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