Securities and Exchange Commission (SEC) registered investment advisor, Vested has raised an undisclosed amount of funding from Inflection Point (IP) Ventures. Founded in 2018 by Viram Shah, Darwin Arifin, Eric Huynh and Yinghan Lin, Vested is aimed at facilitating sustainable wealth formation by allowing local investors to go international. With a paperless Know-Your-Customer (KYC) process, fractional investing, streamlined fund transfers, commission-free investing, and advisory via pre-build portfolios, they have built a product compatible for Indian investors.
According to Vested, the funds raised via IP Ventures will be utilized in expanding the team and launching new products. Till now they have opened more than 7,000 brokerage accounts for investors all across India.
The founders of Vested come from four different countries and diverse career backgrounds. While Viram Shah is originally from India and has three-plus years of experience in investment banking at JP Morgan in India, Darwin Arifin is originally from Indonesia and has three-plus years of involvement in leading process development and project management at Sandia National Labs and Intel. Eric Huynh is originally from the US and has eight-plus years of practice in product and design. Yinghan Lin is originally from Singapore and has previously worked at Google.
“We are excited to be partnering with IPV via this fund-raise. Their network of CXOs is invaluable. It has already helped us acquire new customers as well as get connected to important business partners” says Viram Shah, CEO, Vested.
Vested offers pre-built portfolios called Vests that allow investors to invest beyond the FAANGs of the world. The fractional proficiency of the company allows investors to start investing as little as $1 in their favorite global companies. Vested has so far established partnerships with Indian banks to simplify the fund transfer process under the central bank’s LRS.
Speaking on his investment in the company, IP Ventures investor Dhaval Radia says “There is a huge market that is ready to be unlocked for Indian investors wanting to invest in US stocks, seamlessly, at their finger-tips. The platform provided by Vested is extremely simple and gets the job done. I expect a ton of sustainable growth for a platform like this, as the investors get more savvy and comfortable with investing in US.”
“The thing that attracted me at first about Vested is the simplicity of its application. It shows the clarity of thought and customer-centricity, in all that they do. Then when I got to know the diversity and depth in the team behind it, I was convinced that it has all the right indicators for becoming a huge success,” Mr. Radia adds.
The investment advisor firm has bagged a prize of $20,000 at the UC Berkeley’s Launch Accelerator for its accomplishments. Whittling an international investing product localized for Indian investors, it has outstretched funds from investors across India, US, China, and Singapore.
With the partnership with the Broker-Dealer in the US, Vested has become as the only company to offer zero-commission US stock investing to Indian investors.
Over the past 5 years, $1.8 billion has been invested in international markets. This number is set to proliferate substantively as awareness about international investing increases and cost-effective and easy to use solutions become available to Indian investors.