How Much Did Fisdom Raise? Funding & Key Investors

Fisdom has successfully raised funds through multiple rounds, with the latest being a Series C round closed on June 30, 2022. The company has garnered the support of nine investors, including Quona Capital and Saama Capital.

Keep reading to explore the intricacies of Fisdom's fundraising journey and the investors backing this innovative wealth-tech platform.

What Is Fisdom?

Founded in 2015, Fisdom is a leading digital wealth platform based in Bangalore, Karnataka, India. The company offers a comprehensive range of financial products and services to retail and mass affluent customers.

Fisdom was established by Anand Dalmia, Ramganesh Iyer, and Subramanya S.V. The platform integrates with mobile banking apps of partner banks, providing a seamless and convenient experience for users.

With a workforce of 501-1000 employees, Fisdom continues to innovate in the wealth-tech industry, pioneering the B2B2C distribution model through strategic partnerships with 15 leading banks in India.

How Much Funding Has Fisdom Raised?

1. Pre-Seed Round
   • Amount Raised: Not publicly disclosed
   • Date: November 2015
   • Lead Investors: Rajeev Chitrabhanu (MAGNETIC)
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To kickstart the company's operations and initial product development.
2. Angel Round
   • Amount Raised: $500K
   • Date: January 2016
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
3. Seed Round
   • Amount Raised: $1.1M
   • Date: October 2016
   • Lead Investors: Saama Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale the platform and onboard more users.
4. Series B Round
   • Amount Raised: ₹250M
   • Date: November 2017
   • Lead Investors: Quona Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand product offerings and enter new markets.
5. Corporate Round
   • Amount Raised: $11M
   • Date: October 2019
   • Lead Investors: PayU GPO
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To strengthen strategic partnerships and enhance technological infrastructure.
6. Series B Round
   • Amount Raised: $7M
   • Date: December 2020
   • Lead Investors: PayU GPO
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further develop the platform and increase market penetration.
7. Series C Round
   • Amount Raised: ₹1.1B
   • Date: June 2022
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: $150M
   • Motivation Behind the Round: To expand the company's offerings and solidify its market position.

Fisdom has raised a total of $19.6M with a current valuation of $150M.

Key Investors

• PayU GPO
  • Details: PayU is a global fintech company that provides payment technology to online merchants. It operates in 18 markets across Asia, Central and Eastern Europe, Latin America, the Middle East, and Africa.
  • Investment Focus Areas: Payment technology, financial services, e-commerce.
  • Notable Investments: Kreditech, Citrus Pay, Zooz.
• Quona Capital
  • Details: Quona Capital is a venture capital firm that invests in innovative financial technology companies in emerging markets. The firm aims to improve access to financial services for underserved consumers and businesses.
  • Investment Focus Areas: Fintech, financial inclusion, emerging markets.
  • Notable Investments: Konfio, ZestMoney, Yoco.
• Saama Capital
  • Details: Saama Capital is a venture capital firm that invests in early-stage companies across various sectors. The firm has a strong focus on technology and healthcare.
  • Investment Focus Areas: Technology, healthcare, consumer services.
  • Notable Investments: Snapdeal, Vistaar, Sula Vineyards.
• Rajeev Chitrabhanu (MAGNETIC)
  • Details: Rajeev Chitrabhanu is an angel investor and the founder of MAGNETIC, a venture capital firm. He has a background in investment banking and has been involved in various entrepreneurial ventures.
  • Investment Focus Areas: Technology, financial services, consumer products.
  • Notable Investments: Not publicly disclosed.

What's Next for Fisdom?

Fisdom stands at the cusp of significant growth opportunities, driven by the expanding fintech market in India. The company aims to broaden its financial product offerings and deepen collaborations with banks and financial institutions. With the recent $14 million Series C funding round, Fisdom is well-positioned to leverage technology to enhance user experience and decision-making tools.

As the fintech landscape evolves, Fisdom may attract further investments, potentially leading to Series D and beyond. However, the company must navigate challenges such as intense competition, regulatory changes, and maintaining user trust and data security. These hurdles will test Fisdom's resilience as it strives to solidify its market position.

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