Mumbai; June 26, 2026 — Finnovate Financial Services, a financial‑planning startup co‑founded by Nehal Mota and Naveen Singh, has raised about $2 million in a pre‑Series A round from a group of angel investors led by Ramakant Deshpande and others. The fresh capital follows a $1 million raise in 2023 and will bankroll product scaling, app and tech upgrades, marketing, and business‑development push, the company said. Built to help professionals meet long‑term goals through structured investing, Finnovate recently secured a Portfolio Management Services (PMS) licence — a milestone that clears the runway for a Multi‑Asset PMS strategy it plans to launch. The new strategy promises diversified exposure across equities, debt and other asset classes, aimed at smoothing market cycles and improving long‑term wealth creation for clients.
Why this round matters?
Product-led growth: Proceeds will accelerate mobile app improvements and backend tech — critical for scaling advisory and personalisation.
Credential boost: The PMS licence gives Finnovate a formal foothold in wealth management and expands its addressable market beyond standard advisory.
Wider investor appeal: A multi‑asset PMS can attract HNI and affluent professionals seeking diversified, professionally managed solutions rather than ad‑hoc portfolios.
Execution risks: Distribution, regulatory compliance for PMS products, and demonstrating consistent risk‑adjusted returns will be key to converting interest into assets under management.
Context
India’s wealth management market is expanding as retail and professional participation rises. Startups that combine disciplined investment processes, personalised advisory and strong tech platforms are best positioned to capture a share of long‑term household and professional savings.
Bottom line
Finnovate’s $2M pre‑Series A is a vote of confidence from angels who see potential in tech‑enabled, advice‑led wealth products. The coming months will test whether the firm can convert product upgrades and a new multi‑asset PMS into steady inflows and measurable performance for clients.
By : Sejal Thakur
