Mumbai-based fin-tech startup Fincash has raised Rs 1 crore in funding from angel investors Mohammed Khan, founder of Rediffusion and Sameer Narayan, former fund manager of BNP Paribas among others.
The company will use this investment to expand their product solutions, customer base and widen the reach of its financial services across the country.
Fincash will be expanding its existing product solutions such as SmartSIP, SavingsPlus, and TaxSaver. There will be new categories of these solutions that will help customers to invest as per their financial goals and time frames.
“It is important to make a first-time investor comfortable with mutual funds. Once they gain confidence with short-term plans like liquid funds, we introduce them to equity funds via a SIP. Addressing customers risk-appetite and giving them better solutions, I think, is a great way to encourage their investment journey,” said Gaurav Perti, co-founder, Fincash.moneycontrol