Steadview Capital, Tiger Global, and Dragoneer Investment Group led a $75 million Series D round of funding for wealth management platform INDmoney.
INDMoney, which launched in 2019, offers users to keep track of their finances on a single platform and invest in a variety of financial instruments including as mutual funds, fixed deposits, equities, and bonds. As part of its premium offering, it also provides financial planning services to subscribers. It claims to have 3.5 million users who track over $15 billion in assets.
“The fact that our current investors Tiger, Steadview, and Dragoneer are doubling down, as well as new investors joining, further validates the platform’s strength and the team’s outstanding execution capabilities,” said Ashish Kashyap, INDmoney’s founder.
“We are ecstatic at the level of consumer enthusiasm for INDmoney. This is due to the fact that we are attempting to solve a very huge and tough problem in the Financial Services space: becoming a true one-stop shop for a family’s money,” he added.