Fintech

Fintech Platform for Millennials MoneyPlanned Raises Over 2.5 Cr. In a Seed Round Led by Inflection Point Ventures

Sameer Shashank Gattupalli (Founder & CEO) and Nikhila Putcha (Co-Founder & Chief Growth Officer)
  • MoneyPlanned is a personal finance platform that helps people set, maintain, and accomplish financial objectives
  • Indian Patents Office granted MoneyPlanned’s patent, titled “System and Method to assist users in Financial Planning” in July 2022.
  • Wix (Velo) highlighted MoneyPlanned as one of the most innovative and well-designed platforms
  • IPV has announced the launch of $50 million AIF Fund Physis Capital to invest in Series A and B growth stage start-ups
  • IPV has so far invested over Rs. 500 Cr across 135+ deals

Fintech platform MoneyPlanned has raised over 2.5 Cr. in a Seed Round led by Inflection Point Ventures. The round also saw participation from Expert Dojo, Joseph R Saviano (Partner at Dot Capital, Newyork), Sameer Khan (Executive Director Corporate Treasury, DBS Bank, Singapore) along with a clutch of other strategic Angel Investors. The funds raised will be utilized towards marketing and user acquisition, deepening the tech infrastructure and expanding the tech and business teams.

Founded in July 2020 by Certified Investment Planners, Sameer Shashank Gattupalli (Founder & CEO) and Nikhila Putcha (Co-Founder & Chief Growth Officer) who are adept in designing product experiences, MoneyPlanned is a personal finance platform app for millennials that offers comprehensive financial goal planning, automated advice across asset classes, simple and easy transactions along with financial footprint consolidation.

MoneyPlanned’s unique and innovative patent, authored by Nikhila and titled “System and Method to assist users in Financial Planning” was granted by Indian Patents Office in July 2022. The founders envision to build the most advanced financial planning platform powered by emerging technologies like AI and blockchain that performs like an in-person financial planner securely and efficiently. MoneyPlanned aims to build a proposed technology in the patent by 2023 to fully personalise and automate financial goals for earning millennials and GenZs in India.

MoneyPlanned is democratising access to holistic financial planning through their app. The design interface is smooth, intuitive and is easy to use. It is the only platform offering the most sophisticated financial planning & advisory in a straightforward and modern UX. They have patented their tech for hyper personalized financial planning and have built a highly scalable service with good unit economics.

Vinay Bansal, Founder CEO, Inflection Point Ventures, says “India has a large base of salaried people with more youngsters joining the workforce every year. Financial planning is not a luxury anymore but a necessity, that’s one of the biggest learning from the Covid pandemic. Thus, from a market opportunity perspective, MoneyPlanned’s platform is built to offer a personalised service at scale. At IPV, we invest in businesses that have the ability to scale while maintaining a healthy business matrix.”

A host of interconnected services like financial situation evaluation, portfolio and product recommendation, expense and budget advice can be done seamlessly on MoneyPlanned. The in-house creation of a full-stack Robo-advisory and mutual fund investment platform of MoneyPlanned helped users track goals worth INR 6,500 Crores. MoneyPlanned aims to disrupt the large fintech market, through its simplified and affordable app, using a patentable workflow, which helps users identify, set and track goals. It not only provides an integrated financial view but also helps facilitate investments, loans, insurance, and tax planning. MoneyPlanned currently has 10K weekly active users and 35K monthly active users.

Sameer Shashank Gattupalli, Founder & CEO, MoneyPlanned says, “Thousands of urban millennials are using MoneyPlanned to plan & invest towards their financial goals. Our mission is to create the best platform for automating financial fitness (with our patented tech) and to enable unparalleled access to a modern ecosystem of financial products and services.”

India’s fintech market stands at $400 billion and with over 84 million salaried employees the sector is only expected to grow further, with people looking to grow their wealth. However, only 27% of India’s population is financially literate and 47% of urban population has a financial plan in place. One of the primary challenges to building a financial plan and becoming financially literate is access to quality advisors and affordability. However, the ratio of advisors to investors is only 1:76000, which can be solved using technology.

The industry today stands at over $150 billion market for Robo-advisory and online financial products and is expected to grow at 26%+ CAGR and with 87% adoption rate and is projected to hold a value of $480 billion by 2025.

About MoneyPlanned

MoneyPlanned is a fintech platform helping 100,000+ millennials automate their financial goals. With their unique technology, they are democratizing access to comprehensive financial management and hyper-personalizing financial planning for millions of people in the middle-class segments. They provide an end-to-end platform for financial goals – from 360° financial planning & investment transactions to constant advisory for goal achievement. The founders, Sameer, and Nikhila, who possess expertise in both financial as well as technical domains have built MoneyPlanned with the vision to create a modern ecosystem of financial products & services to automate financial goals for a financially fitter India.

About Inflection Point Ventures

Inflection Point Ventures is an angel investing platform with over 7400 CXOs, HNIs, and Professionals to together invest in startups. The firm supports new-age entrepreneurs by providing them monetary & experiential capital and connecting them with a diverse group of investors.

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