Wealth-tech startup Fisdom has raised $7 million in a fresh round of funding 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 wealth tech 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.”