[Funding alert] Silicon Valley-based fintech co Vested Finance raises $12M in Series A

California-based online investment platform Funding acquired said he lifted $12 million in a Series A funding round led by Ayon Capital.

Investors such as 9Unicorns, Ankur Warikoo, Dhruvil Sanghvi and Saumil Parekh participated in the round, alongside existing investors such as Tenoneten, Ovo Fund, Wedbush Ventures, IPV and Upscale.

The startup said it plans to use the funds to scale its team globally, expand its product line, and launch more products in the cross-border space.

Start in August 2018 by Viram Shah, Darwin Arifin from Indonesia, and Yinghan Lin from Singapore, Acquired allows the Indians to do commission-free investments in US equities, and also undertake split investment (less than a full share of equity is known as a fractional share).

The company said it processed more than $250 million in transactions in 2021 and tripled deposits on the platform in 2021.

“Today, where we are born determines the type of wealth-building opportunities we have access to and that’s unfair. Most of our portfolios lack global diversification,” said Viram, co-founder and Startup CEO.

“We want to enable investors around the world to access global wealth-building opportunities in a simple and profitable way,” he added.

Vested has ties with over 35 online brokers, fintechs and wealth management platforms, including Kuvera, 5Paisa and Angel Broking, among others.

The startup has raised $3.6 million in seed funding from Moving Capital, Ovo Fund and TenOneTen Ventures in the United States, and Inflection Point Ventures and Venture Catalysts in India.

Edited by Teja Lele Desai

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