Mumbai-based venture capital firm India Quotient has backed wealth management app WealthTrust with an undisclosed amount in seed funding.
WealthTrust will use the new funds to strengthen the team, improve its technology infrastructure and add more features to its app according to Techcircle, which cited CEO Nisarg Gandhi.
The startup launched in December 2015 as Wealthee, an SMS-based natural language processing personal finance mobile application.
In May this year it rebranded its Wealthee mobile application to WealthTrust. The Mumbai-based company claims to provides users with personal wealth management advisory services for mutual funds.
As part of the rebrand, it added zero commission mutual fund offering as its key feature according to its website.
Gandhi said, “Users who already have an existing mutual fund portfolio can switch to zero commission in a few seconds, without any paperwork, through the app. They can upload their portfolio on the app.
“Besides, users can make fresh investments and open an investment account through the app. We also have a research team that explores key technical parameters and suggests the tops funds.”
India Quotient’s previous investments include mystery shopping app Red Quanta, career consultancy MapMyTalent.in, pet supplies business DogSpot, bus network Limo, home healthcare startup Care24, and smart home kit supplier Oakter, among others.
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