Home FinTech Fintech Fisdom bags US$ 7 million investment

Fintech Fisdom bags US$ 7 million investment

Fintech Fisdom bags US$ 7 million investment
Fintech Fisdom bags US$ 7 million investment

An India based wealth technology enterprise Fisdom that provides investment advisory services through an app has secured US$ 7 million funding in a round led by PayU on 3th December 2020. The funding round also included participation from the existing investors of Fisdom Saama Capital and Quona Capital

The company intends to use the investment for growing the customer base and development of new products for their customers. They will also keep an eye on different business acquisition opportunities. The investor a PayU, which is a payment technology platform already, had acquired a stake in Fisdom after investing US$ 5 million in the platform in 2019. 

In the last few months the company experienced more than 80% growth for its AUM or assets under management. In the last 6 months the company has signed new partners like Google Pay SBM Bank and Indian Bank. They also scaled their team by on-boarding more than 150 people in various sales, operations and engineering domains. 

The co-founder and CEO of Fisdom Subramanya said, “The latest funding will help us to provide a holistic experience and innovate ourselves for our customers across protection, savings and investments. We are also looking forward to strengthening our engagement with our partners that includes various digital platforms and banks.”

The investment advisory products of Fisdom include mutual funds from more than 5000 mutual funds and more than 40 AMCs. It also offers NPS which is the National Pension Scheme regulated by PFRDA, the Pension Fund Regulatory and Development Authority. Other products of Fisdom include term insurance that provides life cover to people starting with low premium costs and 24k digital gold for buying, selling and tracking digital gold just with a click.

The company also raised US$ 11 million last year in October by selling a minor stake of their enterprise to Saama Capital, Quona Capital and PayU. This brings the total capital raised by the fintech startup to us$ 3.5 million. 

About Fisdom

Fisdom
Fisdom

The fintech startup originating from Bangalore, India provides an automated investment service platform that helps the customers to manage personalized online investment accounts. The startup also provides recommendations for the same. Founded by Ramganesh Iyer, Anand Dalmia, and Subramanya S.V in 2015, the company Fisdom has grown into a leading online wealth management platform and has created a good customer base and demand for the services it provides in the market.

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