Fisdom raises USD 7 mn in funding from PayU, others

The fresh funding will be deployed towards new product development and customer acquisition, and the company will also look at acquisition opportunities that would add to its product portfolio, it added. Fisdom provides a platform for investing in multiple products including mutual funds, insurance, pension funds, digital gold etc and helps customers make informed investment decisions.

Fisdom has seen more than 80 per cent growth in its assets under management (AUM) in the last few months. It has signed new partners such as Indian Bank, Google Pay and SBM Bank, and has also expanded its team onboarding more than 150 employees in the last six months across engineering, sales and operations.

"The latest investment will allow us to innovate and provide a holistic experience to our customers across investments, savings and protection. We are also looking to deepen our engagement with our partners which includes several leading banks and digital platforms," Subramanya SV, co-founder and chief executive officer (CEO) of Fisdom said. Anirban Mukherjee, CEO of PayU India, said Fisdom has grown into a leading digital wealth management platform and has created a demand for its services in the market.

"We are very excited to continue to back Fisdom to help fuel its continued growth in the wealthtech segment and further expand its product portfolio," he added. As a leading, fintech investor PayU has the opportunity to support entrepreneurs who strive towards the vision of building a digital financial services platform connecting merchants, consumers, and banks in India, he said adding that PayU is one step closer to offering payments, lending, and wealth-tech services in a single stack with this investment.