Synopsis
As middle-income Indians increasingly diversify beyond real estate and gold into financial assets, the investment thesis is evolving. New-age startups are leveraging AI to build products at lower cost and with greater efficiency.As middle-income Indians increasingly diversify beyond real estate and gold into financial assets, the investment thesis is evolving. New-age startups are leveraging AI to build products at lower cost and with greater efficiency. This is enabling investors with smaller asset bases to access quality advisory services that were earlier limited to high-net-worth individuals, in turn attracting venture funds to the startups catering to these so-called mass-affluent investors.
“AI can be used to create personalised templates that go beyond generic robo-advisory models. Through digital platforms, these can also be distributed faster,” said a partner at a US-based venture capital firm with multiple fintech investments in India.
In addition, the India Stack, Aadhaar and account aggregator frameworks have made access to structured financial data cheaper and easier, further powering such offerings.
Otto Money has developed an AI-powered chatbot, which helps users analyse mutual fund portfolios and also offers broader wealth management solutions.
The company closed a $1.3 million funding round in February and is now exploring its next fundraise. According to two people aware of the matter, it has reached out to investors for a $10 million round to scale business.
“Our primary focus remains on executing our roadmap and delivering value to users. We will raise capital at the right time to enable continued growth,” said cofounder Apurv Gupta.
Gurugram-based daily savings app Bachatt, competing with Jar and Gullak, is in talks to raise $12 million in a round likely to be led by Accel. The startup had raised $4 million in its first institutional funding round in April 2025.
Emailed queries to Bachatt and Accel went unanswered.
AI-powered credit management startup Oolka is looking to close a $12 million funding round led by Accel, ET reported on March 12. The company aims to use AI to provide customised credit management advice and help users manage indebtedness more effectively.
