Wealth India Financial Services Pvt. Ltd., (WIFS), the promoter of leading online investment services platform FundsIndia.com has raised a second round of investment of Rs. 20 cores to support its growth plans. The round was led by Silicon Valley based venture capital firm Foundation Capital with follow-on investments from current investors Inventus Capital Partners. The investment will be used for growing the business both in terms of expanding the customer base and enhancing the online platform with new products and services.
Launched in 2009, FundsIndia caters to retail investors across the nation and around the world. The company offers mutual funds from 38 AMCs, stocks and ETFs from NSE, fixed deposit products from 7 corporate, and online-enabled NPS services. They are tied up with 33 banks for online transaction facilities.
Ashu Garg will join the board of directors from Foundation Capital while Parag Dhol from Inventus Advisory Services (India) will continue on the board.