City-based Wealth India Financial Services, which runs Fundsindia.com, an online financial services transaction platform, has raised Rs. 70 crore in its Series C round funding from private equity firm Faering Capital, with follow-on investments from existing investors Foundation Capital and Inventus Capital Partners.
The funds will be used to widen the reach of its online financial services across the country in addition to enhancing its service offering, especially using mobile platforms, the company said. FundsIndia was founded by C.R. Chandrasekar and Srikanth Meenakshi in 2008. It is an online investment services platform that caters to retail investors for investments in mutual funds, equities, and corporate deposits.
It has tied up with 39 banks for online transaction facilities.
“Over the last six years, we have demonstrated that technology enabled advisory services (robo-advisory) using online platforms is the best way to deliver financial advice to a lot of people,” said Chandrasekar, CEO of FundsIndia.com.
