Mumbai-Based startup, CashRich have raised an undisclosed amount of seed fund through their remarkable investors from UK. The application is in its BETA phase and it is scheduled to roll out in upcoming months.
CashRich is Smartphone application which helps people to manage their money. The company complies with SEBI (Security Exchange Board of India) regulations and helps to secure investments, transactions along with multiple fund housing. CashRich is currently seeking for more investors, financial partners and asset management.
Sougata Basu the founder and CEO of CashRich say that “CashRich operates in India’s growing wealth management space. It empowers users with an intelligent tool to investment transactions and uses data mining for personalization. However, we do not provide specific scheme-level investment advice.”
Dr Sayan Ranu, from IIT-Delhi is the advisor of CashRich and guides them in developing proprietary algorithms. He says “The financial industry is undergoing a data revolution. Today, we have access to high volumes of personal, demographic and market. I am pleased to see CashRich bring machine learning to wealth management in India.”
CashRich team consists of engineers and finance professionals with a mission to use latest technology and democratize wealth management. The company claims to have potential disruption in the market. The free mobile app aims to ensure the transaction to be secured, manage their mutual funds and to bring better investment experience. Read more on Funded Indian Startups.