Mumbai-based wealth management startup CashRich announced that it has raised capital worth $1mn from three UK-based investors. According to the company, the funds will be used to boost its technology platform and automate select processes including “asset allocation, portfolio diversification and rebalancing.”

The company will automate these process to ensure a more personalised customer experience.

According to YourStory, Sougata Basu, Founder of CashRich, said: “We will use this additional capital to further simplify the personal wealth management process for thousands of Indian investors.”

CashRich was launched in 2017. The company aims to help users manage money investments in a more secure, confident way. From inception to now, the platform has drawn 90,000 users on both Android and iOS platforms. In addition to allowing users to open free investment accounts, the app also enables them to withdraw or monitor investments in a hassle-free method.