Infinyte.Club Raises $3.6 Million to Empower Startup Employees with Wealth Management Tools

Bengaluru-based Infinyte.Club, a pioneering wealth creation and management platform tailored for tech and startup employees, has successfully secured $3.6 million in a funding round led by Elevation Capital. The round also saw participation from prominent angel investors, including Cred founder Kunal Shah, Meesho cofounder Vidit Aatrey, Unacademy cofounder Gaurav Munjal, and Razorpay cofounder Harshil Mathur.

Empowering Startup Employees with Innovative Financial Tools

Founded in 2023 by Ankita Tandon and Joylita Saldanha, Infinyte.Club provides users with tools to track assets, manage equity portfolios, and leverage stock options. The platform, which closed over 40 primary and secondary deals during its private beta phase, is designed to democratize access to private equity and startup investing opportunities, traditionally reserved for a select few.

Tandon explained the platform's mission: “We found it odd that hundreds of people are building incredible tech startups but don’t have access to invest in the companies they are building. We wanted to change that.” This sentiment reflects the platform's commitment to leveling the playing field for startup employees.

Expanding Reach and Enhancing Technology

The newly raised funds will be used to enhance Infinyte.Club’s technology and grow its team. The platform is also gearing up to attract more investors and expand its range of asset classes, with a goal to reach 100,000 customers in the current financial year.

Vaas Bhaskar, principal at Elevation Capital, expressed confidence in Infinyte.Club’s potential, stating, "Infinyte.Club's mission aligns with the burgeoning trends in India's startup ecosystem. With the nation poised for substantial wealth generation through startups and tech enterprises, there’s a pressing demand for dedicated platforms that cater to the unique needs of founders and operators."

A Growing Market for Wealthtech

Infinyte.Club's successful funding round is part of a broader trend in the wealthtech space. On July 9, wealth management platform Dezerv raised $30 million in a round led by Premji Invest, while Stable Money, another wealthtech startup, raised $15 million in a Series A round led by RTP Capital, with participation from Lightspeed India and Matrix Partners.

With its innovative approach and growing user base, Infinyte.Club is set to play a significant role in shaping the future of wealth management for India’s tech and startup ecosystem.