Indians have approximately spend about $9 billion this year on online shopping portals. SEBI is interested in ‘altering regulations’ to allow e-commerce websites to offer mutual funds. According to Chaiirmain Sinha e-commerce could sell funds to help money managers to reach out to young investors easily.
The funding comes after a record Q1 in 2015, bolstered by more than 250 percent growth in year-over-year revenue and from relationships with major brands and retailers. Indix will use the funding to grow its team of data scientists and engineers as well as expand its sales and marketing efforts.