Finnovate raises $2 million to build the financial planning platform India's professionals actually use

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The $2 Million Raise

Mumbai, June 26, 2026. Finnovate Financial Services has raised about $2 million in a pre-Series A round. The round came from a group of angel investors, including Ramakant Deshpande.

The company was co-founded by Nehal Mota and Naveen Singh, and remains led by them today. Mota framed the round as a continuation of the firm's existing direction rather than a change of course.

Two pieces of news arrived close together: the funding round, and our Portfolio Management Services licence from SEBI. They point in the same direction, towards a stronger, better-resourced platform for the people we serve.

Why Investors Are Backing Finnovate

Most Indians want to invest better. Far fewer have a financial plan that actually tells them how.

That gap is large, and it is growing. India's wealth management sector is expanding fast, capital market participation is rising, and yet the distance between what professionals earn and what they actually do with that money remains enormous.

We built Finnovate to close that gap. Plan first, then let the right products follow. Our investors are backing a simple bet: that the professionals underserved by the traditional wealth industry will choose a platform built around their plan rather than around product sales. This raise is a vote of confidence in that model and in the team executing it.

Where the Money Goes

We are putting the capital to work on the things that directly improve your experience.

• Technology and the mobile app: so managing your financial life with Finnovate keeps getting simpler.
• The team: a plan-led model depends on people, not just software.
• Business development: including the groundwork for the next stage of what we offer.

The PMS Licence Milestone

Around the same time as the round, we received our Portfolio Management Services (PMS) licence from SEBI.

We have always operated as a SEBI-registered investment adviser, an advice-led model rather than a commission-led one. The plan comes first, and the products follow the plan. The PMS licence adds a new capability on top of that advice: the ability to directly manage a diversified portfolio across asset classes for an investor who opts into it, making allocation decisions rather than only mapping them out.

The PMS offering is a distinct, separately regulated service. It does not replace the advisory relationship, and it is opt-in. Existing financial plans continue exactly as they are, and any client who wishes to consider the strategy can do so separately once it is formally launched.

We are preparing a Multi Asset PMS Strategy on the back of this licence. It is not yet launched and is not open for subscription. We will share full details when it is ready and formally launched.

What This Means for You

If you are already a Finnovate client, nothing about your current plan changes. Your financial plan, your reviews, and your investments continue exactly as they are. What changes is that the platform behind your plan is now better funded, better resourced, and building faster.

If you have been following us and have not started yet, the starting point is the same as it has always been: a financial plan that addresses how, not just what.

A funding round is not the goal. It is fuel. The goal is the same one we started with: to build the financial planning platform that India's working professionals actually use, and to help make sure the money you work hard for is working just as hard, inside a plan that makes sense for your life.

FAQs

What is a PMS licence and why does it matter?

A Portfolio Management Services licence from SEBI allows Finnovate to directly manage a diversified portfolio across asset classes on behalf of an investor who opts into it, rather than only advising on allocation. It is a separate registration from Finnovate's investment-adviser role, and it sits alongside the advisory relationship rather than replacing it.

Disclaimer: This article is for general information purposes only. It does not constitute investment advice, a recommendation, or an offer to buy or sell any securities or financial instruments. The Portfolio Management Services offering is a separate and separately regulated service, distinct from Finnovate's investment advisory services. The Multi Asset PMS Strategy referenced here is not yet launched and is not open for subscription, and references to the PMS licence are based on publicly available regulatory and company information as of June 2026. Please consult a SEBI-registered investment adviser before making any investment decision.