5 startups that are leveraging technology to simplify daily financial planning

YourStory has curated a list of five startups that are helping users make the right financial plans with tailor-made services.

5 startups that are leveraging technology to simplify daily financial planning

Saturday May 21, 2022,

4 min Read

The importance of financial planning can’t be emphasised enough. A financial plan can make your finances easy to manage, and help you save and invest your money, which can benefit you with high returns.

Technology has seeped into almost every aspect of our lives, including financial services. Many startups offer automated services in the spheres of product innovation in the low-cost exchange-traded fund (ETF) space, online share trading, as well as tracking documents and records of advice.

These services can be availed by users to set investment goals and monitor whether they are on track to achieving them. If they are off track, many of these tech-based platforms immediately advise them on how to get investments back on track. 

Here are five startups that offer tools to manage your daily financial and investment goals.


Founded by Priti Rathi Gupta in 2018, Mumbai-based fintech startup LXME App enables women to independently manage their finances by providing them with the right knowledge and tools.


It aims to solve the ‘gender gap’ when it comes to financial independence by encouraging women across lifestyles, professions, and stages to become financially independent.

LXME offers goal-based investment calculators, literature on financial topics, and the option for women to invest in five mutual funds, based on goals and timelines for investment via the LXME app or website.

The startup’s Think module offers financial content to help users become financially literate, while the Learn feature offers interactive online courses on money management.

LXME aims to bridge the accessibility and knowledge gap for women on money matters and help them make their own decisions.


Founded in 2018 by Ashish Kashyap, Gurugram-based wealth management startup INDmoney (previously known as INDWealth) is a full-stack wealth-technology platform with a mission to ‘democratise finance for Indians’ by driving transparency and leveraging technology.


Ashish Kashyap (Second from left) along with early team.

The startup uses AI (artificial intelligence) and ML (machine learning) to help customers set financial goals, and manage their future cash flow, debt, and other liabilities, as well as their tax outgo.

INDMoney app helps users track their investments and expenses across different loans, investments, taxes, and investments.

In January 2020, the startup raised Rs 87 crore as a part of its Series C funding round led by Tiger Global to build out its AI, R&D, technology, and advisory team, as well as to invest in marketing and customer acquisition programmes.


Founded by Gaurav Arora and Rathin Shah, Bengaluru-based Spenny is a micro-saving and investment application that sets up a portfolio for users by collecting spare change from daily transactions.

Every time a user makes a transaction, it rounds up the amount to the nearest Rs 10, 20, 50, or 100, and invests it automatically into a "managed diversified portfolio".

The app offers bank-level security with 256-bit encryption. The startup also offers a Mastercard debit card for saving and investing, and the amount is invested into ICICI Prudential Liquid Mutual Fund.

The amount is being managed by SEBI-regulated mutual fund houses, with all the relevant licenses and certifications. It charges 1 percent of the money invested, and people can move beyond just investing with spare change.


Founded in 2016 by Samant Sikka, Sanjeev Sharma, and Dhananjay Singh, Gurugram-based wealth

management platform Sqrrl aims at helping young Indians inculcate the habit of saving and investing.


Founders of Sqrrl (L to R) - Dhananjay Kumar Singh, Samant Sikka and Sanjeev Sharma

The app helps users invest in high-performing (zero-commission) mutual funds based on their risk horizons, investment needs, and goals.

In June 2018, Sqrrl raised $1 million in a Pre-Series A round from Equanimity Venture Fund to improve its product and technology through investment, particularly in ML (machine learning) and AI (artificial intelligence) to sharpen its product recommendation, and further smooth the onboarding process.

Recently, AI-driven credit-led wellness platform CASHe acquired Sqrrl in an all-cash deal.


Founded by Gaurav Rastogi, Neelabh Sanyal, and Mayank Sharma in 2016, Bengaluru-based wealth management startup Kuvera is a robo advisory platform for personal financial planning and investing that wants consumers to be their own wealth managers.

Kuvera founders

Founders of Kuvera (from left): Gaurav Rastogi, Mayank Sharma and Neelabh Sanyal

The startup claims to be a commission-free investing platform for individuals. It charges users a recurring annual fee to unlock premium features like family portfolio planning and tax harvesting, while some features like digital gold planning and portfolio rebalancing advice are kept free.

Kuvera uses AI algorithms to access the customer’s credit profiles and risk appetite, and recommends suitable financial products based on their goals.

In April 2019, the startup raised $4.5 million in a Series A funding round from Eight Roads to expand its team and product lineup.  

(Note: The story has been updated with more details.)

Edited by Kanishk Singh