FundsIndia.com, an online value-added financial services platform created and promoted by Wealth India Financial Services Pvt Ltd., has announced that it has raised Rs. 3 crore in Series A investment from Inventus Capital Partners. FundsIndia, launched in 2009, started with just mutual fund services but later on added tax-filing facility, an equity investment platform, corporate fixed deposit products, and an online enabled NPS platform. They were also the first to allow no-transaction fee and no-entry-load on mutual funds.
Why are Inventus interested?
Thanks to some regulatory changes in the Indian financial industry, this particular industry is seeing changes where a company like FundsIndia have a great opportunity for growth. FundsIndia have also had to restructure their products but definitely look like they only stand to gain with all the products and services on offer to potential investors. Also, FundsIndia are able to offer low-cost yet high-quality services as a result of their online platform. This again works in favor of the company, and subsequently Inventus who seem to have made a wise investment.
Apart from FundsIndia, Inventus has invested in TeliBrahma, Insta Health Solutions and redBus. Inventus is said to have a $51 million fund for early stage companies.
FundsIndia’s utilization of funds
This 3 crore investment by Inventus will be used by the FundsIndia to add new products and services to their online portfolio and also to expand customer base. With the current portfolio itself, FundsIndia have a formidable set of products and services which are offered by very few companies. Add the online presence and the additional funding which promises more products, including an insurance platform that the company is looking to launch soon, the customer base looks certain to increase by large numbers.
