Total amount raised
$153.9 Million
Latest funding date
3/1/2022
Location
INDmoney has successfully raised funds through 5 distinct funding rounds, with the latest being a Series D round. The platform is backed by 12 investors, including notable names like Ankur Warikoo and Culture Cap.
Keep reading to explore the intricacies of INDmoney's fundraising journey and the investors backing this innovative platform.
What Is INDmoney?
INDmoney is a prominent player in the Financial Services and FinTech industries. Founded in Gurgaon, Haryana, India, the company has grown to employ between 251 and 500 people. The platform is designed to consolidate and manage finances in one place, offering a comprehensive suite of investment options, including stocks, mutual funds, ETFs, IPOs, NPS, and fixed deposits.
With over 2 crore downloads and more than 20 lakh investors, INDmoney is highly rated on both iOS and Android platforms. The app allows users to invest in both Indian and US markets, track all their investments, manage family accounts, and view their complete net worth in one place. The company has raised significant funding over multiple rounds, with the latest being a Series D round.
How Much Funding Has INDmoney Raised?
- Series Unknown
- Amount Raised: USD 15,000,000
- Date: August 2019
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial growth and development of the platform.
- Series Unknown
- Amount Raised: INR 2,200,000,000
- Date: October 2018
- Lead Investors: Steadview Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and reach in the market.
- Series C
- Amount Raised: USD 12,000,000
- Date: January 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's features and user experience.
- Series D
- Amount Raised: USD 86,000,000
- Date: January 2022
- Lead Investors: Dragoneer Investment Group, Steadview Capital, Tiger Global Management
- Valuation at Round: USD 640,000,000
- Motivation Behind the Round: To scale the platform and enhance its technological capabilities.
- Series D
- Amount Raised: USD 11,000,000
- Date: March 2022
- Lead Investors: Sixteenth Street Capital, Peyush Bansal, Ankur Warikoo
- Valuation at Round: USD 640,000,000
- Motivation Behind the Round: To validate the platform's mission and support its growth.
Total Amount Raised: USD 124,000,000
Current Valuation: USD 640,000,000
Key Investors
- Dragoneer Investment Group
- Details: Dragoneer Investment Group is a prominent investment firm known for backing growth-oriented companies. They have a strong track record of investing in high-growth sectors.
- Investment Focus Areas: Technology, internet companies, growth-stage companies
- Notable Investments: Airbnb, Uber, Snowflake
- Steadview Capital
- Details: Steadview Capital is an investment firm that focuses on long-term investments in public and private companies. They are known for their strategic investments in high-potential markets.
- Investment Focus Areas: Public companies, private companies, long-term investments
- Notable Investments: Nykaa, Zomato
- Tiger Global Management
- Details: Tiger Global Management is a leading investment firm with a focus on technology and internet companies. They have a significant presence in the venture capital and private equity sectors.
- Investment Focus Areas: Technology, internet companies, venture capital
- Notable Investments: Flipkart, Ola, LinkedIn
- Sixteenth Street Capital
- Details: Sixteenth Street Capital is a Singapore-based investment firm. They focus on high-growth potential startups and innovative financial technologies.
- Investment Focus Areas: High-growth startups, financial technologies, innovative solutions
- Notable Investments: Not specifically mentioned
- Peyush Bansal
- Details: Peyush Bansal is the founder and CEO of Lenskart, an eyewear retail company. He is known for his focus on consumer experience and deep tech products.
- Investment Focus Areas: Consumer experience, deep tech products, global potential
- Notable Investments: Lenskart
What's Next for INDmoney?
INDmoney stands at the cusp of significant growth opportunities, driven by the expanding interest in online stockbroking and the underpenetrated financial markets in South and Southeast Asia. With a robust platform that integrates deep tech and a strong consumer experience, the company is well-positioned to scale its operations and broaden its user base beyond the current 3 million customers.
Future fundraising prospects look promising, as the company continues to attract high-profile investors and demonstrates strong internal and external confidence. This financial backing will be crucial in supporting INDmoney's expansion plans and technological advancements. However, the company must navigate challenges such as intense competition from other fintech platforms and managing the rapid increase in expenses to maintain its growth trajectory.
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