Kuvera, the Indian digital investment advisor, has raised $4.5m in Series A funding from our FinTech Strategic Investments team. Kuvera was founded in 2016 as India’s first ‘free-to-use’ web-based direct mutual fund investment platform. It provides more than 100,000 users with access to a range of innovative investment tools designed to help them save and reach their financial goals. Kuvera currently manages more than Rs 3,000 crores in mutual fund investments.

Kuvera was founded in Bangalore by Gaurav Rastogi, Neelabh Sanyal and Mayank Sharma. Each founder brings extensive investment, finance and technology experience, and a shared aspiration to use digital innovation to simplify the investment journey for millions of Indian consumers.

This first round of institutional funding will allow Kuvera to build its team and expand its product portfolio. Kuvera is increasing its use of AI to help its customers invest in a way that helps them to secure better returns, while enhancing its product and service range to reduce the cost of accessing multiple financial products through a single digital platform.

Commenting on the investment Alokik Advani, said: "This is our team's first investment in India. We are really impressed by Kuvera's platform which is at par with the best. We will leverage our close relationship with Fidelity to support Kuvera in serving the Indian consumer".