Advisory Provided by Lex Consult for Belong's Capital Raising Efforts with Elevation Capital
In a significant move for the fintech industry, Lex Consult, a leading law firm, has played a pivotal role in advising Belong, a platform designed for Non-Resident Indians (NRIs), on their recent $5 million seed funding round.
The funding round, led by Elevation Capital, saw participation from Relentless VC and marquee angel investors. This investment will be instrumental in accelerating product development, hiring, and market expansion initiatives for Belong.
Lex Consult's transaction team, led by Partner Majid Afsar Siddiqi, provided comprehensive legal guidance throughout the process. Senior Associate Khushboo Khanuja offered key support to the team. The firm's advice encompassed structuring, documentation, regulatory strategy, and negotiation support, ensuring a smooth execution of the seed funding round.
Founded in 2024 by Ankur Choudhary, Ayush Singh, Savitri Bobde, and Sai Sankar M, Belong aims to create a comprehensive financial services super-app tailored for the global Indian diaspora. The platform seeks to address key friction points in cross-border investing by enabling NRIs to invest in GIFT City-based products such as USD fixed deposits, Alternative Investment Funds (AIFs), and mutual funds.
With this investment, Belong is poised to make a significant impact in the financial services sector, offering a seamless investment experience for NRIs worldwide. Lex Consult's role as a legal advisor underscores the firm's commitment to supporting innovative ventures and fostering growth in the fintech industry.
The seed funding round secured by Belong will enable them to accelerate their business, focusing on product development, hiring, and market expansion. With the help of Lex Consult, they aim to strategize and negotiate effectively in the realm of personal-finance and investing, as they build a comprehensive financial services super-app for the global Indian diaspora.
