Amazon Pay to offer wealth management services in India

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Amazon will offer wealth management facilities as it partners with investment platform Kuvera.in. Amazon Pay, a subsidiary of the global retail giant in collaboration with Kuvera will provide investment advisory services and products in India. Kuvera will provide technology for an exclusive experience to the users of Amazon Pay to facilitate investments into mutual funds, fixed deposits, and more over time.

India is the second-largest internet market in the world with over 600 million users. However, only 30 – 40 million users have access to quality investment products.

“We have built the most feature-rich and transformative investing platform with a history of firsts for investors. Through this arrangement with Amazon Pay India, we seek to add value to the investors’ journey. Our goal is to accelerate the democratisation of investing and wealth management in India,” Gaurav Rastogi, founder, and CEO, Kuvera.in said.

“At Amazon Pay, our vision is to simplify lives and fulfill aspirations by solving payment and financial needs of every Indian. For our most engaged customers, growing their wealth and investments is a large need, here is where, we think Kuvera can help our customers with their unique offering,” Vikas Bansal, Director Amazon Pay India said.

With more than 1 million users and Rs 28,000 crore in assets under advice, Kuvera has maintained a scorching pace of growth since starting in 2017. Kuvera is SEBI Registered Investment Advisor that provides online personal financial services and goal-based, direct plan mutual fund investing for Indians.

An early investor into Kuvera, Alokik Advani, managing partner, Fidelity International Strategic Ventures, said, “We believe that through this association between Amazon Pay and Kuvera, Kuvera can bring best in class saving and investing products to a much wider base of users across the country.”