[Funding alert] Fintech startup Vested raises undisclosed amount from IP Ventures
Vested, the Securities and Exchange Commission-registered investment advisor, announced it has raised a fresh round of investment. While the amount remains undisclosed, the company said the fund raise was led by Inflection Point (IP) Ventures.
The US and India-based investment platform, dedicated to empowering Indian investors with access to the US stock market, will use the funds to expand its team and launch new products.
Commenting on the latest funding, Viram Shah, CEO and Co-Founder of Vested, said,
“We are excited to be partnering with IPV via this fundraise. Their network of CXOs is invaluable. It has already helped us acquire new customers as well as get connected to important business partners."
Aimed at facilitating sustainable wealth formation by helping local investors go international, Vested was founded in 2018 by Viram Shah, Darwin Arifin, Eric Huynh, and Yinghan Lin. Interestingly, all four entrepreneurs have varied nationalities, and come from diverse backgrounds.
Viram hails from India, with three-plus years of experience in investment banking at JP Morgan; Darwin is from Indonesia and has more than three years of experience, leading process development and project management at Sandia National Labs and Intel. Eric, on the other hand, is from the US and has eight-plus years of practice in product and design, and Yinghan is from Singapore and has previously worked at Google.
“There is a huge market that is ready to be unlocked for Indian investors wanting to invest in US stocks, seamlessly, at their fingertips. The platform provided by Vested is extremely simple and gets the job done. I expect a ton of sustainable growth for a platform like this, as the investors get more savvy and comfortable with investing in the US,” said IP Ventures investor Dhaval Radia, commenting on the investment.
Vested, prior to this, had raised an undisclosed amount of funding from Bengaluru-based incubator and accelerator platform Venture Catalysts. The investment was part of the company’s pre-seed round.
(Edited by Teja Lele Desai)