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Type | Private |
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Industry | Personal Finance, Financial Services |
Founded | 2016 |
Founder | Gaurav Rastogi, Neelabh Sanyal |
Headquarters | Bangalore, India |
Services | Direct Mutual Funds, Tax Harvesting, Smart Trading, Family Account |
AUM | ₹28,000 Crore |
Parent | Arevuk Advisory Services Pvt. Ltd. |
Website | https://kuvera.in |
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]
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. [2] [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. [2] 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. [2] [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.[ citation needed ]
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. [15] [16]
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