Indian deep tech-enabled investments startup Fabits has announced its pre-seed round led by WMUIndia, one of India’s leading wealth management firms that advises and serves an exclusive circle primarily comprising ultra-high net-worth individuals.
Fabits is looking to break the clutter in the fintech space and target customers for financial planning and wealth management to create sustainable and personalized portfolios. The capital infusion will enhance Fabits’ deep tech model to make more accurate predictions and provide better investment strategies for customers, as per the statement.
The funds will also be used to expand its B2B initiatives in the mutual fund distribution industry and facilitate the core product’s technology, offerings, growth and other strategic collaborations with key players, a statement said.
Founded in 2022, financial planning fintech startup Fabits, provides financial goal-based offerings and recommendations in the evolving landscape of wealth management, making it accessible to the masses. With its unique and unparalleled financial experience, Fabits is focused on B2B and strategic collaborations with key players in the space, according to the statement.
“We are very excited with the pre-seed funding from WMUIndia, as well as the expertise they bring in the space of wealth management. 70 percent of the funding received now will be used for building the core product and technology while the other 30 percent will go into marketing and customer acquisition via strategic partnerships with key players,” said Ajath Anjanappa, CEO & Co-Founder, Fabits. “With its goal-based approach, we understand and tailor investments to specific aspirations and ensure an effective and personalized financial strategy,” he added.
“Fabits’ deep-tech platform combines the best of traditional financial wisdom and modern technology. It has a hybrid model that is a perfect blend of the efficiency of digital platforms and guidance from experienced advisors in wealth management. We are excited to support Fabits in their journey towards fintech enhancements and strategic collaborations, and look forward to the growth journey ahead,” said Jayaprakash Pai, Founder & CEO, Wealth Managers United (India) Pvt Ltd.
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