WealthApp pockets $440,000 for robo-investment app

Investment advisory app WealthApp Financial Advisors has raised $440,000 in angel funding.

The round’s investors include NuVentures managing partner Venk Krishnan and Daksh eServices co-founder MJ Aravind.

The Bengaluru-based startup aims to help users take their first steps in investment and act as a guide through the decision-making process.

It’s one of a number of companies using algorithms and machine learning to offer personalised investment recommendations to non-professional investors.

Launching in January WealthApp was founded by former Citibank executives and now counts 20 employees.

The company says it will use the capital to further develop its technology platform, expand its team and enter new cities and regions.

WealthApp competes with the likes of Scripbox, Tauro Investment Advisors, Goalwise and WealthTrust in the robo-advisory space.

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