PE Fund Investments
Wealth tech app IndMoney raises $75-M from Steadview, Tiger Global, Dragoneer
Mumbai-based IndMoney (earlier Indwealth.in), an app-based provider of wealth management solutions, has raised about USD 75 million in its ongoing Series D round, which saw participation from existing investors Steadview Capital, Tiger Global and Dragoneer Investment Group - each investing USD 25 million. The company plans to use the fresh funds to acquire 25 million more users via inorganic route and invest across research & development and technology. It also plans to launch new credit products. IndMoney allows users to track their finances on a single platform and helps them invest across various financial instruments including mutual funds, fixed deposits, stocks and bonds. It also gives users wealth planning solutions as a part of its premium offering. It claims to have 3.5 million registered users tracking more than USD 15 billion in investments.
From the Venture Intelligence PE-VC Deal Database: Between May-2018 and Jan-2020, Indwealth.in had raised over USD 57-M from Steadview Capital, DST Global, Dragoneer Investment Group, Tiger Global and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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