Kuvera.in explained

Kuvera is an Indian online wealth management platform for mutual funds, digital gold, fixed deposits, cryptocurrency exchange, insurance & US ETF investment. It is operated by Arevuk Advisory Services Pvt. Ltd., a company headquartered in Bangalore.^{[1] [2]}

History

Kuvera was founded in 2016 by Gaurav Rastogi - ex-portfolio manager at Morgan Stanley and Neelabh Sanyal - former vice-president with Axis Capital.^[3] Mayank Sharma, cloud architect at Amagi joined as the third co-founder in 2017, assuming the responsibility of head of technology.^[4]

Kuvera.in derives its name from Kuber (also called Kubera or Kuvera), the lord of riches and treasures according to Hindu mythology.^[5]

Kuvera's parent company, Arevuk Advisory Services Pvt. Ltd. registered as investment advisor (RIA) with SEBI (registration no INA200005166) on 19 July 2016 ^[6]

The website was launched in 2017. Over the course of the year, Kuvera introduced the robo-advisory tools on its platform.^[7]

Kuvera raised a total of $500,000 in two rounds of angel funding. In March 2018, it raised $250,000 in the second round of angel investment from Baskar Subramanian, co-founder, Amagi, Saket Kumar, Managing Director, Swank Capital among others.^{[8] [9]}

In April 2019, Kuvera received a Series A investment of $4.5 Million from the lead investor Eight Roads Fintech Strategic Investments,^{[10] [11]} the investment arm of Fidelity International for building the team and expanding the product portfolio.^{[12] [13]}

The company also launched a group health insurance cover for its users underwritten by Bharti AXA that covers medical expenses.^[14]

Mayank Sharma, CTO left the company in February 2021.

Kuvera was acquired by Cred (company) in a cash-and stock-deal to enter the wealth-management space.^[15]

Partnership

In September 2020, the company established a partnership with Vested Finance to allow its Indian traders to invest in the US stocks including Netflix, Facebook, and Apple.^{[16] [17]}

See also

• Mutual Funds in India

External links

• Official Website

Notes and References

1. News: Using the Internet for your financial investments. Parikh. Saurin. 2018-10-05. The Hindu. 2019-07-31. en-IN. 0971-751X.
2. Web site: Mutual funds platform Kuvera raises $250,000 from angel investors. Malik. Yuvraj. 2018-03-03. livemint. en. 2019-07-31.
3. Web site: Mutual funds platform Kuvera ties up with Uber. Malik. Yuvraj. 2017-08-23. LiveMint. en. 2019-07-31.
4. Web site: 2020-07-27. Kuvera Banks On Gamification To Bring Young Indians Into The Investment Fold. 2020-12-04. Inc42 Media. en-US.
5. Web site: Das . Subhamoy . 1 August 2018 . Kuber the Lord of Riches . 2019-07-31 . Learn Religions . en.
6. Web site: SEBI Investment Adviser. www.sebi.gov.in. 2019-07-31.
7. Web site: Robo-advisory startup Kuvera looks to tap into direct mutual funds market. VCCircle. en-US. 2019-07-31.
8. Web site: Kuvera raises $250k from angel investors. Moneycontrol. 2019-07-31.
9. Web site: Online financial planning platform Kuvera raises angel funding. 2018-03-03. VCCircle. en-US. 2019-07-31.
10. Web site: Wealth Management Startup Kuvera Raises $4.5 Mn From Eight Roads. 2019-04-16. Inc42 Media. en-US. 2019-07-31.
11. Web site: Kuvera raises $4.5m in Series A funding. Eight Roads. en. 2019-08-01.
12. Web site: Eight Roads writes $4.5 mn cheque to digital investment platform Kuvera. 2019-04-16. VCCircle. en-US. 2019-07-31.
13. Web site: Indian wealthtech Kuvera raises $4.5m. April 2019. 17th. FinTech Futures. en-GB. 2019-08-01.
14. Web site: Kaur. Avneet. 2020-09-30. Kuvera introduces group health insurance for its users. 2020-12-04. mint. en.
15. News: Rag . Ajay . 2024-02-06 . Cred to buy Kuvera to enter wealth management . 2024-09-16 . The Economic Times . 0013-0389.
16. Web site: 2020-09-02. Mutual funds platform Kuvera now offers Indian investors to invest in US stocks. 2020-12-04. mint. en.
17. Web site: Borate. Neil. 2020-09-03. Investment apps offer integrated platforms for global, local stocks. 2020-12-04. mint. en.