Business Wire India
- Network FP raises Rs 2.6 Crores capital through crowdfunding from 99 of India’s leading financial advisors and distributors.
- Funds were raised to build an end-to-end, state of art Edutech platform exclusively for personal finance professionals across India.
- Network FP to launch India’s first directory of qualified financial advisors who end consumers & investors can trust and work with confidence.
Network FP, a community-driven knowledge platform has recently completed raising capital to fund the development of an end-to-end Edutech platform for financial advisors and distributors. Ninety-nine of India’s leading professionals who are also members of Network FP have participated in Series A round making it a highly successful and unique community funding initiative.
Professional education in this space is very elementary, highly unstructured and sporadic in nature. Network FP intends to fill the gap with its well-researched and highly practical knowledge programs supported by a robust tech-enabled knowledge platform.
Sadique Neelgund, founder of Network FP said “With this funding and support, we are set to revolutionize the financial advisory space in India by unleashing the power of knowledge, technology and community. India has a critical need to bring in professionalism to the financial intermediation space. With over 11 years in learning and development specific to this industry, we are well-positioned to bring in this change.”
India has over 3 Crore families with an income of 10 lakhs p.a. and above. Such families need professional money managers as majority of them don’t have time or required skills/knowledge to manage money, investments & insurance on their own. Assuming a professional can comfortably manage 100-200 families each, there is a need for 2 lakh professionals in India. Network FP also aims to build India’s first directory of qualified knowledge-driven professionals whom public can trust and work with confidence.
The fundraising was successfully completed with the guidance of CA Arvind Rao & Associates and CS Amey Lotlikar & Associates.
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