Bengaluru based Finwizard Technology Pvt. Ltd has secured $1.1m in Series Seed funding led by Saama Capital. Finwizard produces and runs wealth management advisory app Fisdom. The company will invest these funds in technology, to expand its team and acquire customers, it said in a statement.
Fisdom was founded by Subramanya SV, Ramganesh Iyer and Anand Dalmia in September 2015. Subramanya was previously managing director at venture capital firm Bessemer Venture Partners and is also an angel investor. He has invested in startups such as DailyNinja, Cartisan and Goodbox. Iyer was an investment manager with Peepul Capital Advisors and Dalmia worked with Macquarie Capital India before starting Fisdom. In January, Fisdom raised $500,000 in seed funding from angel investors based in India and overseas. The round was led by Silicon Valley-based venture capitalist Rob Chandra. CommonFloor co-founder Sumit Jain, TaxiForSure co-founders Aprameya Radhakrishna and Raghunandan G, Wooqer CEO Vishal Purohit, JM Financial CEO Rajeev Chitrabhanu and Macquarie Capital’s Gaurav Gupta also put money in this round.