Fisdom, an automated investment service provider that manages a personalized online investment account, has raised $7 million in new funding led by PayU.
Existing investors Sama Capital and Quona Capital also participated in this funding round, the company said.
Founded in 2015 by Anand Dalmia, Ramganesh Iyer, Subramanya S.V. and Subramanya Venkat, Fisdom is a personal finance startup that provides personalized investment recommendations. It offers investments in mutual funds, digital gold, term insurance. The company plans to monetize by charging a commission from financial services companies and mutual funds.
Subramanya SV, co-founder and CEO, Fisdom, said the new capital will be used for acquisitions and to widen its range of products. In 2019, the startup had raised around $11 million from the existing investors.
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