Wealthy is a wealth management platform that has secured $5.4 million in its first funding round. This  round was led by Falcon Edge’s Alpha wave incubation Fund and had participation of other investors  including Savrola Lakshmi LLC. Alpha Wave led the round with Rs 20.7 crore followed by Savrola  Lakshmi LLC with Rs 16.38 crore and rest of the Rs 7.92 crore came from individual investors.  

The board has approved a resolution to allot 47,222 CCPS at an issue price of Rs 9,556 each to raise  $5.4 million. According to the company filing, the startup will use these fresh proceeds for working  capital purposes and market expansion. Founded by Aditya Agarwal and Prashant Gupta, this startup specializes in offering investment management and tracking tools to retail investors. The startup  provides a financial services platform that uses various technologies to offer its customers with 

financial advisory, transaction capabilities and access to wealth management professionals. This  investment shows the trust of Alpha Wave in Weathy’s market potential and business model. 

Image source: wealthy.in 

The startup claims to have done more than Rs 4,500 crore of investments thought its wealth  management platform. After this round, the existing investor Alpha Wave holds the largest external  stake with 24.16 percent. The startup had 8 time more increase in its loss in FY23, while its revenue  increased by 57.2% and reached Rs 11.82 crore mark. The startup competes with Deserv, Cube Wealth,  and stable Money, among others.  

The startup claims to process investment request in 24 hours. The company will be using this fund to  strengthen its platform, make it more secure and expand across the country. Wealthy intends to use  this amount to scale up its in-house infrastructure, hire teams for business development, expand to  the global market, and advance its technology. Wealthy offers a platform that offers both efficiency  and speed in the investment process helping users to make faster and efficient investments with wealth management. 

Conclusion: 

Wealthy is a Bengaluru-based startup offering wealth Management platform for faster and secure  investments. The startup got fresh capital of $5.4 million from Falcon Edge’s Alpha wave incubation  Fund. The funding round had participation from other investors including Savrola Lakshmi LLC. The  company plans to use this amount to scale up its in-house infrastructure, hire teams for business development, expand to the global market, and advance its technology. Alpha Wave led the round  with Rs 20.7 crore followed by Savrola Lakshmi LLC with Rs 16.38 crore and rest of the Rs 7.92 crore  came from individual investors. After this round, the existing investor Alpha Wave holds the largest external stake with 24.16 percent. The startup claims that it uses various technologies to offer its  customers with financial advisory, transaction capabilities and access to wealth management  professionals. The company’s board approved the resolution to allot 47,222 CCPS at an issue price of  Rs 9,556 each to raise $5.4 million. The startup competes with Deserv, Cube Wealth, and stable Money,  among others.