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Fisdom raises $7 million fresh funds in a funding round led by payment platform PayU – Business News , Firstpost



Wealth administration portal Fisdom plans to take a position fresh funds into product growth and buyer and enterprise acquisition.

Wealth-tech startup Fisdom has raised $7 million in a fresh round of funding led by payment know-how platform PayU. The round additionally noticed participation from current buyers, Quona Capital and Saama Capital. The funding will probably be used for brand spanking new product growth and buyer acquisition. Fisdom can even take a look at completely different enterprise acquisition alternatives. PayU had acquired a stake in Fisdom after injecting $5 million into the platform in the 12 months 2019.

Founded by Subramanya S V and Anand Dalmia, Fisdom is a wealth administration platform that gives options throughout financial savings, safety, and funding. The startup has already partnered with banks like Oriental Bank of Commerce, Bank of Baroda, Indian Bank, Karnataka Bank, City Union Bank, Bajaj Finserv, and a number of other extra. The startup caters to buyers trying to make investments in monetary merchandise together with mutual funds, insurance coverage, pension funds, digital gold, and helps them make knowledgeable selections. Its purchasers embody Indian Bank, Google Pay, and SBM Bank.

Anirban Mukherjee, the CEO of PayU India, mentioned, “Fisdom has grown into a main digital wealth administration platform and has created a demand for its companies in the market. We are very excited to proceed to again Fisdom to assist gas its continued development in the wealthtech section and additional broaden its product portfolio. With this funding, PayU is one step nearer to providing funds, lending, and wealth-tech companies in a single stack.”

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