In a Series D funding round, INDmoney raised $11 million from Sixteenth Street Capital, Peyush Bansal, and Ankur Warikoo
- ByStartupStory | March 29, 2022
IndMoney, a wealth management platform, has secured an additional $11 million in a round headed by Singapore-based Sixteenth Street Capital. The company has raised $86 million in its ongoing campaign, valuing it at $650 million post-money. Peyush Bansal, the creator of Lenskart, and Ankur Warikoo, the co-founder of Nearbuy, were among the other investors in the round.
As part of the current round, IndMoney founder and CEO Ashish Kashyap, as well as numerous other top executives from the company, including general counsel Sunny Bajaj, marketing head Divyang Bhardwaj, strategy head Ankur Goyal, and finance head Vinay Saraf, have invested.
New investors will contribute another $10 million to the company. Steadview Capital, Tiger Global, and Dragoneer Investment Group were among the current investors who contributed $75 million to the company. To date, IndMoney has raised a total of $144 million.
Users may track and organize their finances on a single platform, and the company can assist customers to invest in a variety of financial products such as mutual funds, term deposits, bonds, and US equities. It also assists users with financial planning.
The business plans to offer a credit-card-based solution for users in the following quarter, which will be tied to its neo-bank. It has also secured all of the necessary permits to launch its stock trading platform, which will allow users to invest in Indian stocks. IndMoney claims to have facilitated $1.1 billion in investments and has four million registered users.
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