Fisdom Raises $7 Million in Fresh Round Led by PayU

Wealthtech company Fisdom raises $7 million in a new round of funding led by PayU. Existing investors Quona Capital and Saama Capital also participated in this round. The fresh fund will be used to develop new products and customer acquisition. Fisdom will also look at acquisition opportunities that would add to its product portfolio.

Co-founded by Anand Dalmia and Subramanya SV in 2015, this Bangalore based startup acts as the wealth management platform providing solutions across investments, savings and protection. Investors’ confidence in the company’s holistic platform that enables customers to invest in multiple products is testimony of their belief in the management team of the startup, its vision and its ability to build a sustainable wealth-tech business in the long term.

Anirban Mukherjee, CEO, PayU India, said, “Fisdom has grown into a leading digital wealth management platform and has created a demand for its services in the market. We are very excited to continue to back Fisdom to help fuel its continued growth in the wealthtech segment and further expand

"With this investment, PayU is one step closer to offering payments,lending, and wealth-tech services in a single stack”

its product portfolio. As a leading, fintech investor PayU has the opportunity to support entrepreneurs who strive towards our vision of building a digital financial services platform connecting merchants, consumers, and banks in India. With this investment, PayU is one step closer to offering payments, lending, and wealth-tech services in a single stack.”

Even during the pandemic, Fisdom witnessed multifold growth in customer acquisition and signed several new partners including Indian Bank, Google Pay and SBM Bank. It has also expanded its existing team and continues to invest in technology, innovation and expanding the product offering to amplify the investing experience for its customers.

Speaking on the investment, Subramanya SV, Co-Founder & CEO, Fisdom said, “We are happy that our investors continue to reaffirm their confidence in our strategy of B2C product and B2B2C distribution in partnership with banks and financial institutions. The latest investment will allow us to innovate and provide a holistic experience to our customers across investments, savings and protection. We are also looking to deepen our engagement with our partners which includes several leading banks and digital platforms.”