Total amount raised
$153.9 Millions
Latest funding date
Location
INDmoney has successfully raised significant capital through multiple funding rounds, with the latest being a Series D. The platform offers a comprehensive suite of financial services, including investments in Indian and US stocks, mutual funds, and fixed deposits.
Keep reading to explore the intricacies of INDmoney's fundraising journey and the investors backing this innovative platform.
What Is INDmoney?
INDmoney, founded in 2018 by Ashish Kashyap, is headquartered in Gurgaon, Haryana, India. The platform consolidates and manages finances, offering services like investing in Indian and US stocks, mutual funds, and fixed deposits.
With a team of 251-500 employees, INDmoney aims to simplify financial planning and investment for its users. The app also features various financial tools and calculators to assist users in making informed decisions.
INDmoney's comprehensive approach to financial management has made it a popular choice among investors, providing a seamless experience for tracking, planning, and growing their money.
How Much Funding Has INDmoney Raised?
- Series D
- Amount Raised: $11M
- Date: March 2022
- Lead Investors: Sixteenth Street Capital, Peyush Bansal, Ankur Warikoo
- Valuation at Round: $640M
- Motivation Behind the Round: To validate the mission with investments from customers and team members.
- Series D
- Amount Raised: $86M
- Date: January 2022
- Lead Investors: Dragoneer Investment Group, Steadview Capital, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series C
- Amount Raised: $12M
- Date: January 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve technology infrastructure.
- Venture Round
- Amount Raised: $15M
- Date: August 2019
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and product development.
- Venture Round
- Amount Raised: ₹2.2B (approx. $30M)
- Date: October 2018
- Lead Investors: Steadview Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the platform and establish a market presence.
Total Amount Raised: $154M. Current Valuation: $640M.
Key Investors
- Sixteenth Street Capital
- Details: A Singapore-based investment firm known for its strategic investments in emerging markets.
- Investment Focus Areas: Technology-enabled services, financial services, consumer markets.
- Notable Investments: Not publicly disclosed.
- Peyush Bansal
- Details: Founder and CEO of Lenskart, a leading eyewear retailer in India.
- Investment Focus Areas: Consumer experience, deep tech, retail.
- Notable Investments: Lenskart.
- Ankur Warikoo
- Details: Founder of Nearbuy.com and a prominent influencer in the startup ecosystem.
- Investment Focus Areas: Technology startups, fintech, consumer services.
- Notable Investments: Nearbuy.com.
- Tiger Global Management
- Details: A global investment firm with a focus on technology-driven companies.
- Investment Focus Areas: Technology, consumer, industrial sectors.
- Notable Investments: Facebook, LinkedIn, Flipkart.
- Steadview Capital
- Details: An investment firm that focuses on long-term investments in high-growth companies.
- Investment Focus Areas: Public and private markets, technology, consumer services.
- Notable Investments: Nykaa, Zomato.
What's Next for INDmoney?
INDmoney stands at the cusp of significant growth opportunities, driven by the burgeoning interest in online stockbroking and investment platforms. With the Indian investment tech market projected to grow to over $60 billion by FY25, the platform is well-positioned to expand its user base and enhance its product offerings. The potential to scale globally, particularly in underpenetrated markets of South and Southeast Asia, further amplifies its growth prospects.
Future fundraising appears promising, given the strong internal and external confidence demonstrated by the recent Series D round. High-profile investors and the involvement of key team members underscore the platform's potential to attract further investments. However, INDmoney must navigate intense competition and manage rising expenses to achieve profitability. Balancing innovation with regulatory compliance will be crucial as the company scales its operations.
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