Personal wealth management startup Fisdom has raised $3.8 Mn (INR 25 Cr) in a round led by Quona Capital. Existing investor, Saama Capital, also participated in the fintech startup’s second institutional round of funding.
Commenting on the fundraise from Quona and Saama Capital, Fisdom CEO Subramanya SV said, “With this new investment round, we intend to further enhance the technology, expand our team and for our customer acquisition efforts. Quona Capital is a fintech-focused fund in emerging markets. They have a deep understanding of our business and we hope to benefit from their insights.”
Quona Capital is a US-based VC firm that invests in growth-stage startups, primarily in the fintech market. Established in October 2015 by Miguel Herrera, Ganesh Rengaswamy, Monica Brand Engela and Jonathan Whittle, the firm backs promising businesses that are working to improve the quality, access and affordability of financial services in underdeveloped regions of Sub-Saharan Africa, Latin America, and Asia.
The list of investee companies that have been backed by Quona includes South Africa-based Zoona, India-based housing development finance company Shubham, CreditMantri, GloboKasNet from Peru and Mexico-based Konfio, among others.
Fisdom: Making Investment Advisory Services Available To All
Coming to Fisdom, this Bengaluru-based wealth management startup came into existence in 2015. Conceived by former venture capitalist Subramanya SV, ex-investment banker Anand Dalmia and Ramganesh Iyer, the company assists users in making sound financial and investment decisions for long-term financial planning.
The company claims to have facilitated more than 100K mutual fund-based investments with over $15.3 Mn (INR 100 Cr) in assets. Through the Fisdom app, customers can register, seek advice, transact as well as track the performance of their investment funds.