Indian wealth-management app Cube raises funds during Covid crisis

Source: IBS Intelligence 2020-06-02

Indian FinTech Cube, a wealth-management app for busy professionals, has raised a mid-series funding of half-a-million US dollars ($500,000). The fresh round, which comes in the time of a pandemic caused by the COVID19 virus, is led by the company’s founder, Singapore-based venture fund Beenext and Japan-based Asuka Holdings.

According to a press release, the company plans to use the funds in expanding the engineering team and in growth marketing. Cube is currently looking to recruit talent in growth marketing and web engineering. Part of the funds will also accelerate the marketing of Cube Cloud – the cross-border SaaS platform for fund managers.

Satyen Kothari, Founder, Cube, said, “I believe this pandemic is an inflection point for digital wealth management as customers will now get accustomed to and demand digital services for everything from KYC to tracking their investments. They will also demand a higher degree of transparency and ethics from their wealth providers. Technology delivers well on these fronts. Our clients are also very keen now on exploring Cube’s alternative asset options that are not linked to the stock markets. However, all this will still need amazing human asset managers to be the brains behind investing. And that is Cube’s strength – combining the beauty of technology with human intelligence.”

This round will ensure the company stays focused on the opportunities ahead, Kothari said, adding that, “It reflects the core Cube ethos of building real user value with the discipline to create a long term business.”

Launched in June 2018, Cube Wealth is a digital wealth management service that offers busy professionals ethical, high-quality investment options that were previously only available to the ultra-rich.

Additionally, Cube has launched a new cross-border SaaS service and marketplace called Cube Cloud that has some well-known fund managers in India enrolled as customers. This service helps fund managers in India with a cloud-based full-stack platform to access capital from investors across 50 countries. The platform handles everything from marketing to information and capital tracking to regulatory permissions and compliance. Fund managers can sign up and go live in seven days flat– and for free, the company said.

Fund

financing

financial technology

Compliance

Indian wealth-management app Cube raises funds during Covid crisis

Subscribe to Our Newsletter!

Subscribe to Our Newsletter!