Orange Corp incubated startup Nimeya in talks to raise $10m
The app measures the financial net worth on real time basis and also helps users to achieve their financial goals
image for illustrative purpose
Global venture capital firm Orange Corp incubated startup, Nimeya Technologies is understood to have opened talks to raise $10m in the Seed Round from couple of domestic and international venture capital funds including Marv Ventures and Opal Family Office. Orange Corp along with a few other individuals have already boarded as angel investor in the venture.
It's interesting to note that 'Limited Partners' in the VC world is showing active interest in funding startups at an early stage. Nimeya.Ai is said to be India's first personal financial wellness app meant for individuals, family members and family offices which builds a robust ecosystem for optimal financial decision making.
The app measures the financial net worth on real time basis and also helps users to achieve their financial goals.
Angel investors include Debasish Dutta, CEO & Managing Partner of Orange Corp who is rated among the top startup incubators in the world and is also prestigious Forbes Finance Council member.
With "Digital India" initiative by the Government in mind where
knowledge is a key, Nimeya.ai promises to empower every earning Indian with "Apna Investometer" informing them about their financial networth including contingent networth with few clicks.
Talking to Bizz Buzz, Sujoy Manna, founder of the startup, said,
"Nimeya.AI is here to provide his/her financial wellbeing by digitally recording, analysing and tracking all investments and liabilities and aligning the same with their financial goals."
Manna, a post graduate in Economics from Delhi School of Economics having domain experience of more than 20 years in BFSI space, also said that "We are in talks with a couple of domestic investors and international venture capital funds like Marv Ventures, Opal Family Office, Venture Marshall LLP and Angelvent."
He is supported by eminent actuary and post graduate in Econometrics Gopal Kumar (Co-founder) and technology professional Sudipta Pradhan (Co-founder) in this initiative.
"The word "Nimeya" means "to measure". Like we measure our physical wellness, it is very essential that we measure our financial wellness to ensure and endeavour that we have a happy and peaceful relationship with our finances" says Gopal Kumar.
The application comes with digital locker called "KeepSafe" where individuals can digitally store all financial documents related to various investments.
One can get regular notifications prior to insurance premium or SIP due dates or policy expiry - so no need to remember due dates, says co-founder Sudipta Prodhan. "The startup is addressing a global problem of financial asymmetry while taking financial decisions, thus acting as an instant CFO for personal finance. This is truly an Indian App meant for all developing and developed economies of the world," says Orange Corp CEO and Managing Partner and a Forbes Finance Council member Debasish Dutta."
The team behind the startup is a great blend of academics, experience and insights. The fund will be used to promote marketing activities, develop on IT capabilities and launch new functionality like online will creation and succession planning among others which is considered a must for every Indian.
Nimeya's Apna Investometer provides a true picture of the current financial position of the individual and family. It makes it easy and secured for common people to manage their finances with user- friendly dashboard to display a 360 degree view of all investments and liabilities on real time basis for self and family members under a single account.
The contingent net worth shows whether the individual has enough insurance protection for the family should any unforeseen events occur. The interest ratio determines whether you are burdening yourself with debts and lastly it helps to understand the availability of cash through liquidity ratio.
For the first time individuals will be able to create their own balance sheet & illustrate if they are on the right path to accomplish their own goals, such as getting out of debt, by showing how much and what investments they own, what debts they have to repay and how much they are worth in total.
