Companies

Online investor advisor AdviseSure in talks to raise $8 m in VC funding

Rajesh Kurup Mumbai | Updated on January 19, 2018 Published on February 05, 2016




AdviseSure Ventures, an online investor financial advisor, is in discussions with venture capital (VC) funds to raise $5-8 million.

The company expects to raise the funds in two-three months, plans to use it for marketing and tech spending. The start-up was bootstrapped in September 2015 by financial services advisors Sameer Aggarwal and Abhimanyu Sofat.

This would be AdviseSure’s first external funding — it had raised ₹1 crore in seed funding from family and friends.

“We are in various stages of discussions with the top 20 VC funds in the country, with discussions in advanced stages with some of them,” said Sofat without naming any of the funds.

AdviseSure, a bionic financial advisor (partly robotic and partly with human interference), uses software to provide investment advices in equity, mutual funds, real estate, insurance and corporate bonds, among others.

It levies a fee of ₹365 a year (₹1 a day) from its clients.

“We need to build adequate tools for analytics and data-dependent solutions,” Sofat added.

Published on February 05, 2016
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