InvestmentYogi, a prominent Indian financial advice website has announced a new round of funding from its existing set of investors led by Silicon Valley angel investor, Safa Rashtchy. The company has been operational since 2008 and it has managed to reach 4.3 million Indians. Reaching these milestones have definitely made their existing investors confident enough to put in one more round. According to the company, it’s product TaxYogi has been very well received. This has been due to growing Internet penetration into newer sectors and the dependency of tech savvy Indians on online services.
The amount has not been disclosed but NextBigWhat estimates that the amount may be in the range of $100K-500K. Besides the funding round, the company has also announced the appointment of new talent to its management team. They have appointed Anirudha Basu as COO and Kranthi Kiran as VP of Technology. Anirudha comes from an operational background, having worked on websites like UPto75.com and NoMoreQueue.com. Kranthi has previously worked on his own social network called DoesAnyone and has done work with other startups in the country. Also, founding investor and board member, Safa Rashtchy has been made the Chairman of the board.
Mamtha Banerjee, who is the founder of InvestmentYogi spoke about the developments,
“We are at an exciting and pivotal time in India where InvestmentYogi is facing tremendous growth. We are confident that our new executive team will help us get to the next stage of growth, helping us fulfill our mission of helping all Indians understand and manage their finances, and create a secure financial future.”
Earlier, personal investment and financial planning was not accessible to many due to lack of knowledge and accessibility and one had to seek the services of a trained professional. With online services like these, the picture has become pretty clear for anyone who is willing to use it. This appification of the web in terms of personal finances and investments is a good way ahead as it solves the need for paying some professional to do it resulting in a knowledgeable users and lesser spending.
How many of you guys have used Investment Yogi? Please share your experiences with us.
Website | Investment Yogi