Roehl Niño Bautista · · 1 min readEx-Google exec’s fintech firm nets $75m in series D money
India-based INDmoney, a digital wealth management platform, has raised US$75 million in a series D funding round co-led by Steadview Capital, Tiger Global, and Dragoneer.
Photo credit: INDMoney
INDmoney aims to use the fresh funds to be a “super banking platform” for families. It centralizes different financial services, allowing users to save, plan, and invest.
The company was founded in 2019 by Ashish Kashyap, former head of Google India.
Recently, INDmoney hit 3.5 million registered users with a 20% month-on-month growth and has tracked US$15 billion in investments. It also said its neobank services had seen 500,000 savings accounts being opened within three months of launch and saw transactions breach US$1 billion in value.
INDmoney is targeting 25 million more users through inorganic growth activities and will invest in tech as well as research and development. It is also adding stock brokerage stack and credit products to its platform.
Editing by Collin Furtado and Arpit Nayak
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