Announces anniversary offer of free portfolio planning and analysis service for the entire month of July
Discloses for the first time that Cube has hundreds of busy professionals and HNIs as clients across 26 cities in India and 5 countries around the world
June 28, 2019, Mumbai: Cube Wealth, the wealth creation service for busy professionals, marks its 1-year anniversary today. Backed by prominent investors from Silicon Valley, Hong Kong, Europe, Singapore and India, Cube Wealth has built an impressive list of customers in just one year. These include senior professionals from Flipkart, Unacademy, Google, Amazon, Uber, Deloitte, Ernst and Young, WeWork, Zeta, ZestMoney, JusPay, Instamojo, Cars24, Upgrad and Milkbasket.
In the last year, Cube clients have invested in 5 regions across the world via 17 hand-picked investment options, offered in the app. Adding to Mumbai, the company has opened offices in 3 new cities in India (Bengaluru, Chennai, and Hyderabad) since the start of 2019 and the team has doubled in size in the last 3 months alone.
Cube’s Founder, Satyen Kothari (previously, founder, Citrus Pay) says, “We believe every hard-working professional has the right to aim for total financial freedom. And yet, these honest folks often get terrible investing advice, are sold poor investment products, or simply lack the time or knowledge to invest well for themselves. With Cube, we have handled literally everything. We have brought the best money advisors in India - maybe even the world - into our service. For example, our mutual fund advisor WealthFirst, has a track record of beating the average mutual fund by 50% for the last 19 years. We have simplified the experience to the point where you can be extremely lazy in managing your finances. In fact, we encourage laziness - don’t mess with your portfolio too often! Our tech service and human Wealth Coaches work together to help you at each step. What to do, how to think long-term, and even when to sell!
Commenting on Cube’s philosophy around adding integrity and accessibility in the messy world of money, Satyen says, “Our team has hand-selected every option in Cube to ensure quality and performance. We put our personal money in before we offer it to our customers and have negotiated deals to provide access to the best possible investment managers that, until now, only the ultra-rich had access to. The starting investment amount can be as low as 15000 rupees or as high as a few crores, making it accessible to all - professionals, creatives, entrepreneurs, doctors and homemakers alike, because everyone deserves integrity and quality in the messy world of investing.”
Cube’s mission is to make its customers richer without needing to worry about the confusing world of investing. With Cube Wealth, every busy Indian professional gets:
A Wealth Coach from Cube to guide customers at every step to get started
Access to India’s best investment managers with amazing track records at low monthly SIPs or one-time deposits
Double the interest of a typical Bank Fixed Deposit from their idle money
A simple app to track investments - just watch as your wealth grows with time, without any complex jargon or confusing graphs
An automatic, magical system that does everything with zero work needed from the customer and yet with full control
Satyen had previously founded Citrus Pay in the online payments industry. Citrus was acquired by PayU in 2016 for $130 Million in the largest fintech cash deal in India. With this background, his experienced team takes the security of each and every one of Cube Wealth’s customers seriously. The service has data protection at the device, server, and database level. Cube also performs due diligence of each investment manager to minimise investor risk.
Highlights of the past year at Cube:
Series A Funding: In October 2018, Cube Wealth announced INR 14 crore Series A funding from prominent international investors, including, Singapore venture fund Beenext, Hongkong’s Asuka Holding and US venture fund 500 Startups.
Returns 2 times greater than Bank Fixed Deposits: Since December 2018, Cube has tied up with several alternative investment managers to provide returns of 12% and more with no lock-ins. These include innovative, first-in-the-market options around Settlement Financing and fixed return P2P Loans via Merchants.
Long term Wealth Creation Partnerships: Since February 2019, Cube Wealth has partnered with the best long-term asset managers in the country. By curating the top 3 performing PMSes in the country, Cube’s members can simply access Alchemy Capital, Ambit Asset Management and Motilal Oswal Asset Management via the app. Equity Advisory with top performer Purnartha, a SEBI Registered Investment Advisor is also available with simple digital signup.
Dedicated Wealth Coaches: In February 2019, Cube added a dedicated team of quality Wealth Coaches and Trainers to service HNI clients that demand integrity in financial advice, access to alternative investments, and a simplified portfolio tracking experience. A personal wealth coach service for HNIs cements Cube Wealth as a modern wealth management platform that combines human service with technology.
Launch of financial planning services: In March 2019, Cube launched bespoke financial analysis and portfolio planning services for its clients. This premium service, previously only available to the ultra-rich, helps customers plan their life’s finances, identify and exit under-performing investments from their previous portfolio, and upgrade their portfolio to align with the best investment managers in the country. The service, typically costing upwards of Rs 3000, is free for the month of July as an anniversary offer.
Cube Wealth will be expanding to additional cities across India to provide Wealth Coaches this coming year and with the upcoming global launch, NRIs will also soon have the same access as their Indian cousins to the best Indian investing options. The service will be adding new hand-picked options for creating wealth for all busy professionals.
Stay tuned for more news on this front or sign up for updates on https://www.bankoncube.com/ or by following us on Twitter, Instagram or Facebook.
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