India, Nov. 24 -- Mutual fund distributors-focussed wealthtech startup Wealthy has raised INR 130 Cr (about $14.6 Mn) in its Series B funding round led by Bertelsmann India Investments. The funding also saw participation from Shepherd's Hill, existing backer Alpha Wave Global and a group of undisclosed tech entrepreneurs.

In a statement, the startup said it will use the funds to advance its AI-powered tools and digital infrastructure for mutual fund distributors. It also plans to use a part of the funds to increase investments in technology and expand into tier II & III cities.

Founded in 2016 by Aditya Agarwal and Prashant Gupta, Wealthy provides AI-powered tools and digital infrastructure to mutual fund distributors and investment adv...