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Latest Press ReleasesIndia Digital Review - 31/07/2012FundsIndia.com raises Rs 20 crore Series B lead by Foundation Capital Wealth India Financial Services, which runs FundsIndia.com, has raised Rs 20 crore in a second round investment. FundsIndia.com is an online financial services transaction platform for retail customers focusing on mutual funds. The Silicon Valley-based venture capital firm Foundation Capital has invested nearly 75 per cent of the fresh investment. The balance amount was a follow up investment from the current investors Inventus Capital. The investment will be used to grow the business both in terms of expanding the customer base and enhancing the online platform with new products and services, said the company”s CEO, C.R.Chandrasekar. In August 2010, Inventus Capital invested Rs 3 Crore In FundsIndia. Kanwal Rekhi and Parag Dhol from Inventus Capital joined FundsIndia”s board. FundsIndia.com was launched in June 2009 with its mutual fund services. Subsequently, it enhanced the platform to offer corporate fixed deposit products and an equity investment platform. They also offer tax-filing facility and an online-enabled NPS platform. The company also plans to launch an insurance platform shortly. |
