WealthDesk raises $3.2 million

BENGALURU: Investment technology platform WealthDesk has raised $3.2 million in funding from a clutch of investors, including former Blackstone partner Mathew Cyriac, in his personal capacity.
Founded in 2016 by Ujjwal Jain, WealthDesk is an investment technology platform that captures the entire asset management & advisory value chain.
In the past 6 months, WealthDesk has doubled the number of advisors & research partners, and brokers on its platform to 20 and 30 respectively.It has also launched a portfolio analytics and optimisation tool.
Jain said, “We are very excited about this investment from Mathew Cyriac. Mathew is known to be a far-sighted investor and his association with WealthDesk validates our vision and strengthens our capabilities to disrupt asset and wealth management in Indian with large-scale distribution capabilities. We believe there exists a “100 million investors” opportunity in India, and Mathew’s guidance will enable us to seize this opportunity effectively. It plans to deploy the funding to hire talent, invest in R&D and further build out the technology to expand its business."