Wealth-tech startup Fisdom has raised $7 million in new funding from existing investors led by PayU, the payments and fintech unit of Prosus Ventures. Its existing investors Sama Capital and Quona Capital have also participated in this funding round, the company said.
Subramanya SV, co-founder and CEO, Fisdom, said the new capital will be used for acquisitions and to widen its range of products. Started in 2015, Fisdom offers investments in mutual funds, digital gold, term insurance. In 2019, it had raised around $11 million from the same set of investors.
During the pandemic, Fisdom said it has seen more than 80% growth in its assets under management. “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,” said Subramanya.