India: PayU leads funding in Fisdom and 16 more deal updates

Wealthtech platform Fisdom has raised $7 million in a new round of funding led by PayU. The financing saw also the participation of existing investors Quona Capital and Saama Capital, per an announcement.

The fresh funding will be deployed towards new product development and customer acquisition. The company will also look at acquisition opportunities that would add to its product portfolio, it said in a statement.

Co-founded by Anand Dalmia and Subramanya SV, Fisdom provides a platform for investing in multiple products including mutual funds, insurance, pension funds, digital gold etc. and claims to help customers make informed investment decisions for every goal of their life.

“The latest investment will allow us to innovate and provide a holistic experience to our customers across investments, savings and protection. We are also looking to deepen our engagement with our partners which includes several leading banks and digital platforms,” Subramanya SV, co-Founder & CEO,  said.

During the pandemic, Fisdom claims to have seen more than 80% growth in its AUM. The startup has also expanded its existing team and has on-boarded more than 150 employees virtually during the last 6 months across engineering, sales and operations.

INDIA DEAL MONITOR

Here are prominent venture capital transactions in India from December 2-6, 2020.

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