FundsIndia, an online investment services platform has raised Series A (INR 3 crores) funds from Inventus Capital Partners.
FundsIndia is a lead generation service transaction fee-based service (they also make money from trail fees) that provides a platform for investments in mutual funds, equities, deposits apart from a tax-filing platform (in partnership with TaxYogi).
There are a few interesting services that FundsIndia offers
- Common login/folio for your Family’s Investments
With FundsIndia, you can invest, manage and view the investments of your family members i.e. spouse, kids and parents in a consolidated manner using a common login id. You can invest individually or jointly with them by creating different joint holding mechanisms for their accounts.
- Better and easier methods to do SIP
You can setup a portfolio of schemes with percentage allotment of money and manage it as a single SIP. That is, with one bank mandate (Rs 5000 each month for example) you can invest across as many funds SIPs as you want (say, 5 SIPs of Rs 1000).
- Trigger-based investing
You will be able to setup investment triggers based on Sensex, portfolio returns (gain/loss) or particular NAV value. Trigger actions include investments, redemption (partial or full) or switching investments
The company is registered inter-mediatory with the National Stock Exchange and offers mutual funds from 30 AMCs, stocks and ETFs from NSE, fixed deposit products from 6 corporates.
Kanwal Rekhi and Parag Dhol from Inventus Capital joins FundsIndia’s board.