India based wealth managementstartupraised $11mm in Series C funding from Faering Capital, Foundation Capital, and Inventus Capital Partners.
Launched in 2009, FundsIndia.com known for its, zero-cost, automated mutual fund investment services. The platform also offers equity investing, fixed deposits, and other retail financial products. The company is targeting to increase transactions through mobile platform to nearly 40-45 per cent from current 25 per cent within next one year. "Over the last six years, we have demonstrated that technology enabled advisory services (robo-advisory) using online platforms is the best way to deliver good financial advice to lot of people," the CEO said.