Surat-based Vijya Fintech Raises $1 Mn in its Angel Round Led By Multiple Large Strategic Investors
Surat-based Vijya Fintech Pvt Ltd, which owns Mercury (one of India’s finest cloud-based full-stack fully integrated multi-asset execution and reporting wealth management platforms), announced today that it has raised USD 1 million in its Angel Round. This round of investment, led by multiple large strategic investors, saw participation from BP Wealth, Narola Infotech Solutions LLP, Sagar Investments, GK Globas and other large strategic investors, making it amongst one of the largest fundraises in recent times in B2B Wealth Management for providing software and platform business.
Mercury will use this new influx of capital towards its mission to make state-of-art “open architecture based technology driving the multi asset wealth management platform” affordable for all financial intermediaries.
While talking about the success of this investment round, Aakash Bansal – Co-founder & CEO -of Vijya Fintech Pvt Ltd, said, “In these extraordinary times, we are confident of the growth ahead of the entire financial ecosystem and all financial intermediaries led by technology. The Angel Round was well-timed with our beta launch of Mercury, and it strengthens our efforts in technology and operations in our endeavour to connect the disconnected financial ecosystem. And we are deeply grateful to all our strategic investors who have shown tremendous confidence, faith and trust in our vision and mission for building Mercury.”
Hardik Doshi – New Board Member – of Vijya Fintech Pvt Ltd, further added, “We are firm believers and investors in the Indian growth story. With rapid economic growth and increasing financial literacy among the masses, we foresee a large increase in the number of active investors in India across asset classes. The Mercury – Distribution Operating System is perfectly placed to harness this trend while simplifying operations for investors and financial advisors through their B2B2C SaaS model. Its growth potential is limitless since it is powered by a highly experienced and efficient management team. I will closely monitor and aid the rise of Mercury with a seat on the board of directors.”
Yuvraj A. Thakker – Managing Director – BP Wealth, said, “Mercury is an answer to a real problem of the industry. There is no unified platform for multi-asset class distribution. And there are even fewer platforms with this kind of sophistication and client-first approach that Mercury brings to the table. The management team understands that they are a multi-sided platform offering a B2B2C SaaS. It is this level of insight, understanding and unwavering commitment to quality that convinced us to participate in this round.”
Ashish Narola – Chief Executive Officer – Narola Infotech Solutions LLP, mentioned, “We are glad to be a part of Mercury – Wealth Management SaaS Platform for Financial Intermediaries. The vision of the founders, as well as their strong background in the domain, convinced us to be strategic partners for this great product. Mercury will surely help Financial Intermediaries to exponentially grow wealth for their investors with plenty of insights, visibility and transparency of multi-asset investment for financial intermediaries as well as their clients.”
Pihas Parikh – Founder – Sagar Investments, added, “Mercury is a need of the hour. The multi-asset platform with all regulatory frameworks and advanced CRM is what today’s financial products distributors, insurance consultants, brokers, and advisors require the most. Logging all transaction trails on the cloud forever is amazing, though. With more than 20 years of domain expertise, I believe they can materialize things very fast. The whole team is ready. It’s my pleasure to be part of their journey.”
Furthermore, there are approximately 94.8 million Demat accounts and around 34.9 million mutual fund investors currently in India. This growth story has definitely unlocked great potential for Mercury, which is constantly bridging the gaps in the disconnected financial ecosystem.
About Vijya Fintech
Vijya Fintech is India’s first and largest financial intermediary multiverse providing State of Art panoramic wealth management software solutions with Multi-Asset execution and reporting. It was started with a vision to build the country’s finest cloud-based full-stack fully integrated multi-asset execution and reporting wealth management platform. The company owned brand – Mercury is run by young enthusiasts with more than two decades of strong pedigree in building and successfully servicing thousands of financial intermediaries like MFDs, RIAs, Stock Brokers, PMS & Banks across the country. To date, Vijaya Fintech has created access to 2000+ Financial Intermediaries managing portfolios for 30L + Investors and AUM of more than INR 1L+ Cr.
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