Fintech Platform for Millennials MoneyPlanned Raises over 2.5 Cr. In a seed round led by Inflection Point Ventures

Sameer Shashank Gattupalli (Founder and CEO) and Nikhila Putcha (Co-Founder and Chief Growth Officer)

• MoneyPlanned is a personal finance platform that helps people set, maintain and achieve financial goals
• The Indian Patent Office granted MoneyPlanned its patent, titled “System and Method for Assisting 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 the $50 million AIF Fund Physis Capital to invest in Series A and B growth stage startups
• IPV has so far invested over Rs. 500 Cr spread over 135+ offers

Fintech platform MoneyPlanned has raised over 2.5 Cr. in a seed round led by Inflection Point Ventures. Expert Dojo, Joseph R Saviano (Partner at Dot Capital, Newyork), Sameer Khan (Executive Director Corporate Treasury, DBS Bank, Singapore) and a number of other strategic angel investors also participated in the round. The funds raised will be used for marketing and user acquisition, deepening the technology infrastructure and expanding the technology and business teams.

Founded in July 2020 by Certified Investment Planners Sameer Shashank Gattupalli (Founder and CEO) and Nikhila Putcha (Co-Founder and Head of Growth) who are skilled 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 the Indian Patents Office in July 2022. The founders envision building the most advanced financial planning platform powered by emerging technologies such as AI and blockchain that acts as a personal financial planner securely and efficiently. MoneyPlanned aims to build a proposed technology into the patent by 2023 to fully personalize and automate financial goals to serve millennials and GenZs in India.

MoneyPlanned democratizes access to holistic financial planning through their app. The design interface is smooth, intuitive and easy to use. It is the only platform that offers the most sophisticated financial planning and advice in a simple and modern user experience. They have patented their technology for hyper-personalized financial planning and have built a highly scalable service with good unit economics.

Vinay Bansal, Founder CEO, Inflection Point Venturessays “India has a large base of salaried people with more youth joining the workforce every year. Financial planning is no longer a luxury but a necessity, that is one of the biggest lessons learned from the Covid pandemic. Hence, from a market opportunity perspective, MoneyPlanned’s platform is built to offer a personalized service at scale. At IPV, we invest in businesses that have the ability to scale while maintaining a healthy business matrix.”

A number of interconnected services such as financial situation evaluation, portfolio and product recommendation, expenditure and budget advice can be done seamlessly on MoneyPlanned. The in-house creation of a full-stack mutual fund Robo-advisory and investment platform of MoneyPlanned helped users track targets worth INR 6500 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 overview, but also helps simplify investments, loans, insurance and tax planning. MoneyPlanned currently has 10,000 active weekly users and 35,000 active monthly users.

Sameer Shashank Gattupalli, Founder and CEO, MoneyPlanned says, “Thousands of urban millennials use MoneyPlanned to plan and invest toward their financial goals. Our mission is to create the best platform to automate financial fitness (with our patented technology) 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 the urban population has a financial plan in place. One of the main challenges to building a financial plan and becoming financially literate is access to quality advisors and affordability. However, the ratio of advisers to investors is only 1:76000, which can be solved with the help of technology.

The industry currently has a market of over $150 billion for Robo-advice and online financial products, and is expected to grow at 26%+ CAGR and with an 87% adoption rate, and is projected to be worth $480 billion by 2025.

About MoneyPlanned

MoneyPlanned is a fintech platform helping 100,000+ millennials automate their financial goals. With their unique technology, they democratize access to comprehensive financial management and hyper-personalized 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 and investment transactions to constant advice for goal attainment. The founders, Sameer and Nikhila, who have expertise in both financial and technical domains, have built MoneyPlanned with the vision of creating a modern ecosystem of financial products and services to automate financial goals for a financially fitter India.

About Inflection Point Ventures

Inflection Point Ventures is an angel investment platform with over 7,400 CXOs, HNIs and professionals to co-invest in startups. The firm supports fledgling entrepreneurs by providing them with financial and experiential capital and connecting them to a diverse group of investors.