Wealthtech startup Fisdom has raised $7 million in a fresh round of funding led by PayU.

Existing investors – Quona Capital and Saama Capital, also participated in the funding round.

As per the startup, it will use the funding for new product development and customer acquisition. Fisdom will also look at different acquisition opportunities.

“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.”

Founded by Subramanya SV and Anand Dalmia, Fisdom is an easy to use app to make smart investments. The wealth tech startup has already partnered with banks like Oriental Bank of Commerce, Karnataka Bank, City Union Bank, Bank of Baroda, Indian Bank, Bajaj Finserv, and several more. 

Talking about the funding, Subramanya SV, Co-founder and CEO of Fisdom, said in a press statement,

“We are happy that our investors continue to reaffirm their confidence in our strategy of B2C product and B2B2C distribution in partnership with banks and financial institutions.”

The startup saw more than 80% growth during the pandemic and has also partnered with Google Pay and SBM Bank. Fisdom claimed that it has expanded its existing team and has on-boarded more than 150 employees virtually during the last six months across engineering, sales, and operations, including some key hiring done during the last year.

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