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Wealth management startup Zomint raises Rs 36 crore from Lightspeed, Prime Venture Partners

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Wealth management startup Zomint raises Rs 36 crore from Lightspeed, Prime Venture Partners

Wealth management startup Zomint has raised Rs 36 crore in a seed funding round from Lightspeed and Prime Venture Partners, as it looks to expand its wealth management business in India.

The startup plans to use the fresh capital to expand its team of wealth and investment experts, strengthen its technology and investment capabilities, and grow its content-led distribution across new formats and regional languages.

Founded by Aman Mittal and Shavir Bansal, Zomint describes itself as an AMFI-registered mutual fund distributor offering advisory-led wealth management. It assigns investors a dedicated wealth manager who helps build a goal-based mutual fund portfolio and monitors it over time.

Customers can start with a monthly systematic investment plan, or SIP, of Rs 25,000 or a lump sum investment of Rs 5 lakh.

The startup's model combines wealth experts with investment research and technology. Its systems bring together information about a client's portfolio, financial goals and previous interactions, alongside investment research, to identify areas that may require attention.

Zomint said its technology continuously monitors portfolios for factors including changes in asset allocation, concentration and fund-level developments. Its investment team reviews alerts before recommending any changes, with transactions requiring the investor's approval.

The startup also carries out formal portfolio reviews every quarter, while investors can be contacted earlier when its systems identify a material change.

Zomint's mutual fund offering covers asset classes including equity, debt, gold and global exposure. It also has a separate global investing service offering access to international funds and GIFT City avenues.



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