WealthBucket, an online investment platform, has raised ₹18 crore in a pre-Series A funding round from North Star Enterprises (SL) Ltd, a Sierra Leone-based firm. It also raised the capital from Vinod Khatumal, an angel investor, and other high-net-worth individual investors as well. The company was founded by Himanshu Jain and Pulkit Jain in 2018.
The startup will utilize these funds to increase its employee strength, as well as expanding its operations across the country. It will also use the funds to enhance its technological infrastructure with a view to simplifying the know-your-customer and investment processes.
In a media statement, co-founder Himanshu Jain said, “Our idea is to provide a model where the investor can choose through a multitude of investment options. Our experts create low-commission portfolios for retail investors and will strive to make investment a hassle-free experience.”
WealthBucket provides users with options to invest in a variety of mutual funds through systematic investment plans and lump sum investments.