Fisdom raises $7 million fresh funds in a funding round led by payment platform PayU

Wealth-tech startup Fisdom has raised $7 million in a fresh round of funding led by payment technology platform PayU. The round also saw participation from existing investors, Quona Capital and Saama Capital. The funding will be used for new product development and customer acquisition. Fisdom will also look at different business acquisition opportunities. PayU had acquired a stake in Fisdom after injecting $5 million into the platform in the year 2019.

Founded by Subramanya S V and Anand Dalmia, Fisdom is a wealth management platform that provides solutions across savings, protection, and investment. The startup has already partnered with banks like Oriental Bank of Commerce, Bank of Baroda, Indian Bank, Karnataka Bank, City Union Bank, Bajaj Finserv, and several more. The startup caters to investors looking to invest in financial products including mutual funds, insurance, pension funds, digital gold, and helps them make informed decisions. Its clients include Indian Bank, Google Pay, and SBM Bank.

Anirban Mukherjee, the CEO of PayU India, said, “Fisdom has grown into a leading digital wealth management platform and has created a demand for its services in the market. We are very excited to continue to back Fisdom to help fuel its continued growth in the wealthtech segment and further expand its product portfolio. With this investment, PayU is one step closer to offering payments, lending, and wealth-tech services in a single stack."

#PayU leads #investment in wealth-tech #startup #Fisdom. PayU India CEO said, “Fisdom has grown into a leading digital wealth management platform & we are very excited to continue to back Fisdom to help fuel its continued growth." #funding https://t.co/aK1nwaYmz7

— PayU India (@PayUindia) December 3, 2020

Congrats to Quona portfolio company and financial advisory platform @fisdomApp on raising another $7M in funding, led by #PayU! Quona is proud to continue to support @Subramanya_SV and the Fisdom team.@PayUindia https://t.co/tPY0gVqdxJ

— Quona Capital (@QuonaCapital) December 3, 2020

Proud Moment! Fisdom bags $7 million led by @PayUindia along with participation from our existing investors @QuonaCapital and @SaamaCapital. Read more about our exceptional milestone: https://t.co/m5hnX0Wyc5@Subramanya_SV @dalmia_anand https://t.co/RVYurbXwum

— fisdom (@fisdomApp) December 3, 2020