MIDASX Partners MF Utilities for AI Wealth Tech Expansion
By ThePip Desk
MIDASX, an AI wealth tech platform, partners with MF Utilities India to offer its multi-asset platform to Mutual Fund Distributors nationwide, expanding access to diverse financial products.
MIDASX, India’s inaugural AI-Powered B2B2C Multi-Asset wealth technology platform, has established an exclusive strategic partnership with MF Utilities India. This collaboration aims to extend MIDASX’s comprehensive multi-asset platform to all Mutual Fund Distributors (MFDs) across the country.
The partnership equips MFDs with access to a diverse suite of financial products. These include Mutual Funds, Indian and International Equities, and Corporate Fixed Deposits. MFDs can also distribute Loans against Securities, Unlisted Securities, Bonds, and Market Linked Debentures (MLDs).
MIDASX currently demonstrates substantial reach within the Indian financial landscape. The platform supports over 2,000 MFDs and serves more than 7 lakh investors.
It manages assets exceeding ₹2.5 lakh crore across 160+ cities in India, encompassing Tier 1, Tier 2, and Tier 3 regions.
Aakash Bansal, CEO of MIDASX, highlighted the initiative’s importance for India’s next phase of wealth creation. He stated it empowers MFDs who already possess investor trust and extensive reach.
Bansal explained that MIDASX provides future-ready, modern, and affordable technology. This enables MFDs to broaden their product offerings and geographical presence.
Ganesh Ram, MD & CEO of MF Utilities India, emphasized the MFD community’s growing role in expanding financial market participation nationwide. He expressed enthusiasm for the collaboration.
Ram noted the combination of AI-led technology with distribution capabilities for Mutual Fund and Systematic Investment Plan (SIP) products. This directly supports MFDs in serving investors and growing their businesses.
MIDASX also serves as the Exclusive Strategic and Technology Partner to MACG. This Mutual Fund Distributor Association of Associations represents over 50 mutual fund distributor associations nationwide.
The company has successfully raised ₹35 crore from family offices and Ultra High Net Worth Individuals (UHNIs). It is actively seeking an additional ₹200 crore to fuel accelerated growth.
MIDASX aims to establish itself as a critical technology backbone for India’s evolving wealth distribution. This transition will enable MFDs to move from a single-product focus to comprehensive, technology-driven, AI-Powered Multi-Asset wealth businesses.