Neobank Winvesta has raised an undisclosed amount as part of its seed round from Speciale Invest, a seed-stage venture capital firm, Blume Founders Fund, and Kunal Shah. The company is also in talks with institutional investors to raise more than $3 million in its pre-series A round.
According to the fintech firm, headquartered in the UK, the funding will help the start-up scale operations, including hiring fresh talent to build a world-class team as well as bolstering technology.
The company builds cross-border banking and wealth management that enables Indians to open multi-currency accounts and invest globally.
The company’s existing investors include Umang Bedi of DailyHunt, Bahram Vakil of AZB & Partners, Rama Bijapurkar, renowned board member and Andre Mohamed, former head of Wealth and Trading for Revolut.
“International banking and investing have been complicated and expensive for Indians. With a vision to make this seamless and convenient, we have brought global banking and investing to the fingertips of every Indian investor with an easy and hassle-free process. This investment is in the run-up to our pre-Series A round,” said Swastik Nigam, founder and CEO, Winvesta.
Founded in 2019 by Swastik Nigam and Prateek Jain, Winvesta looks to make global banking and investments accessible to Indians.
“We are excited to partner with Winvesta, who we believe is disrupting the financial services space by making global banking and investing accessible for Indian customers. With this investment, Speciale will continue to fuel Winvesta’s efforts in redefining and innovating backed with excellence and great expertise,” said Vishesh Rajaram, managing partner at Speciale Invest.
