Review of Vested Finance: A Global Investment Platform

Many of you might have invested in Reliance Industries, TCS, HDFC Bank, SBI, or Infosys. After all, these are amongst the biggest companies in India which are listed on the stock market, so you can conveniently buy their stocks if you wish to.

But what about the biggest American giants like Google, Meta, Tesla or NVIDIA, or even the AI ones like Perplexity and OpenAI?

How can you invest in them? 

Well, that is exactly where platforms like Vested Finance are enabling direct investment in US stocks, ETFs, private market, and even global mutual funds and stocks.

So today, we are doing a deep dive into the company profile of Vested, and bringing to you its corporate structure and founders’ background, key features, fees and charges, funding, and what we like and dislike about the platform.

So let's begin.

Founders’ Background & Corporate Structure

Vested Finance was founded in 2018 by Viram Shah and Darwin Arifin.

Viram’s educational background includes an engineering degree in electronics and telecommunications from University of Mumbai and then an MBA in Business from the University of California, Berkeley. Darwin too has a core background in engineering after completing not just his bachelors but even a PhD in chemical engineering. He went on to complete MBA in Business from the University of California, Berkeley, during which he co-founded Vested with his batchmate Viram.

While Darwin left the company in October 2023 after serving the role of co-founder and COO since 2018, Viram has continued to head Vested as its co-founder and CEO. 

As per MCA data (as of 9th March 2026), Vested Finance is registered as Vested Services Private Ltd. in India, and its co-founder and CEO Viram is the amongst the Directors, but not Darwin. 

Now let us understand what Vested Finance does and how it works.

What Does Vested Finance Do?

Vested is a global investing platform that helps Indian investors gain access to  international markets through the following products: 

• US Stocks and ETFs: Offers 10,000+ stocks and ETFs, including Amazon, Apple, Microsoft, Tesla, Nvidia, and many more.

• Managed Portfolios (formerly called Vests): Offers curated baskets/portfolios of stocks and bonds. These can be theme based portfolios like AI, SpaceTech EV, Crypto, etc, risk-based like conservative, moderate and aggressive baskets of stocks and bonds, or sector, industry and market cap based portfolios.

• Global Mutual Funds: Offers exposure to 50+ countries via funds managed by leading asset managers like Fidelity, DSP and BlackRock. 

• Unlisted shares through private market: Through unlisted shares, Vested offers early access to high-growth companies like OpenAI, SpaceX, Canva, Shein, etc before they go public through their IPOs.

As per its website, Vested already manages an AUM of over Rs 8,000 crores and a massive trading volume of over Rs 40,000 crore (as of December 2025). Also note that Vested uses RBI reference rates as benchmark for the translation of USD returns into Rupee.

As far as its funding and revenue are concerned, the company has reportedly raised over $25 million in 9 funding rounds till now, and had a revenue of Rs 6.38 crores in the previous financial year 2024-25.

Fees & Charges for investing in US stocks

• Account Opening: Free for basic plan. Option to opt for yearly premium subscription at Rs 4,500 (Rs 375 per month).

Here’s how the charges vary across these two plans:

*OTC (over-the-counter) securities are traded through a network of broker-dealers rather than a centralized exchange such as NYSE or NASDAQ. These stocks typically cover smaller foreign companies that do not meet exchange listing requirements.

Is Vested registered with SEBI?

No, Vested is not with India’s securities market regulator SEBI yet. But it is registered as a FINRA Broker Dealer in the name of VF Securities, Inc. 

FINRA (Financial Industry Regulatory Authority) is a private American organization that regulates member brokerage firms and exchange markets. 

On the other hand, the SEC (Securities and Exchange Commission) is an independent agency of the US federal government, with the primary purpose of enforcing laws against market manipulation. Vested is an RIA (Registered Investment Adviser) with the SEC as well.

What about taxation?

1.Capital gains tax and Dividends tax

• Capital gains

For long term capital gains (holding period of more than 2 years), the tax rate is 12.5% (without indexation). 

As far as short term capital gains are concerned (holding period of up to 2 years), the tax is as per your applicable income tax slab.

• Dividends

The dividend income you earn from a US stock is subject to withholding tax of upto 25% which the American company deducts on one's dividend payout. 

And in India, that dividend is included as ‘income from other sources’ and then taxed as per your applicable tax slab. But to prevent this double taxation for the investor, the ‘Double Taxation Avoidance Agreement’ (DTAA) is already in place between the US and India, as per which you, as an investor in India, can claim FTC (Foreign Tax Credit) for the tax already paid in the US and offset it against taxes owed in India.  All you need to do is fill the ‘Form 67’ with the Indian tax department before the due date of filing the ITR.

2. TCS on LRS transactions

Before we dig into this taxation, let’s first quickly understand what TCS on LRS means.

• LRS: Basically, your overseas transactions fall under the Liberalised Remittance Scheme (LRS), an RBI scheme that allows you to send up to 2.5 lakh dollars annually abroad. So, you need to keep your transactions such as overseas medical treatment, education, travel, investment in stocks or property, and maintenance of close relatives under this limit. 

• TCS: Next comes the TCS (tax collection at source). FY24-25 onwards, if your foreign spending or investments exceed Rs 10 lakh per financial year, 20% TCS is levied post this threshold limit.

However, note that you can claim the amount of TCS as credit against tax payable while filing income tax returns. 

These are the simple steps to do it:

i) Log in to the Income Tax portal and access your Form 26AS. 

ii) Verify the TCS amount deposited by your bank or authorized dealer. 

iii) While filing your ITR, adjust the TCS against your total tax liability. 

iv) If your TCS exceeds your tax payable, then claim a refund.

Things We Like About Vested Finance

• Wide range of investment options: From 10,000+ US stocks and ETFs, theme, sector, industry, market cap and risk based vests (now called managed portfolios), to global mutual funds from top asset managers like DSP and BlackRock, Vested has been offering a diverse set of investment opportunities for Indians to go global.

• Strong US regulatory backing: Vested’s registration as a FINRA broker-dealer and SEC RIA enable it to offer solid investor protections like SIPC coverage of upto $500,000, which helps build trust for cross-border investing. Moreover, Vested has a designated clearing broker ‘Drivewealth', which helps with the processing of Orders and Unit allotment.Drivewealth is a member of FINRA and SIPC, and is registered as a broker dealer in all US states.

• Enables access into fractional shares: The US market, unlike the Indian stock market, has a concept of fractional investing, where you can buy a fraction of a share. Presence of platforms like Vested helps in accessing this feature, and that too for global investing. Investors can start investing with as low as just $1 (approx Rs 90).

Things We Don’t Like About Vested Finance

• No SEBI oversight: While Vested does operate through US regulatory frameworks, the lack of SEBI oversight can be a concern for investors who prefer platforms regulated directly in India, as this could mean limited recourse for local disputes compared to SEBI-registered platforms.

• Complex structure and costs: Investing internationally through platforms like Vested does involve several costs, be it the brokerage, withdrawal fees, conversion fees, LRS related bank charges, etc. When combined, these costs may reduce your overall returns, especially for smaller investment amounts. Also, remittances fall under RBI's $250,000 LRS limit, along with 20% TCS. All this can add paperwork and potential cash flow drag for high-volume investors.

Conclusion

It’s fair to say that Vested Finance has positioned itself as a gateway for Indian investors looking to diversify beyond domestic markets. It is amongst the few platforms doing so on a large scale in India. 

While its wide range of investment options and US regulatory backing are its core strengths, investors should also be mindful of the regulatory landscape, layered costs and tax complexities involved in global investing. Last but not the least, as with any investment platform, it’s important to evaluate whether the features, costs, and regulatory structure align with your own investment goals and risk tolerance or not.

Please note that this is an opinion blog and not an official research or investment advice. This blog aims to help retail investors make an informed decision, and it neither encourages nor discourages you from investing in any particular platform or property or any asset class.