PayU Enters Indian Wealthtech Segment With $11 Mn Investment In Fisdom

PayU Enters Indian Wealthtech Segment With $11 Mn Investment In Fisdom

SUMMARY

This is PayU's first investment in wealth management startup

Other investors Saama Capital and Quona Capital also participated in the round

PayU has also invested in other Indian fintechs ZestMoney, CitrusPay and LazyPay

International payments business PayU, on October 30, announced that it has picked up a minority stake in Indian wealth management startup Fisdom for $11 Mn. This was a part of a funding round in which Fisdom’s current investors Saama Capital and Quona Capital also participated.

By investing in Fisdom, the company has officially marked its entry into India’s wealth management segment. PayU’s Indian portfolio includes fintech companies such as lending platform LazyPay, ZestMoney and CitrusPay. The Nasper-owned company has also acquired various Indian startups like online payment processor Wibmo for $70 Mn and digital lending platform PaySense.

Moreover, PayU was also reported to be in talks with MobiKwik to acquire its payment gateway Zaakapay, but MobiKwik denied any such development.

Why Did PayU Choose Fisdom?

Founded in 2015 by former venture capitalist Subramanya SV, ex-investment banker Anand Dalmia and Ramganesh Iyer, Fisdom is a wealth management company that assists users to make financial and investment decisions for long-term planning. Besides advising, the platform also allows users to register, transact and track the performance of their investment funds.

Wealth management is  increasing becoming important segment in the fintech space. Though the user base is rising and so is the funding amount, it still has more potential. A report by Deloitte India predicts that Indian wealth management network is all set to boom by the end of 2020.

Around 21 paise out of every rupee invested in mutual funds will likely be invested through online portals, the report highlights. This major shift to digital investments can be attributed to the fact that wealth management startups are one-stop solution to every investment-related queries. They not only provide a platform to invest, but also guide customers through the process.

Moreover, these platforms narrow down the pool of information available online, according to the customer’s needs. Some of the startups working in this segment include Mumbai-based Cube Wealth, Gurugram-based INDWealth, Bengaluru-based Groww, Wealthy and Kuvera, among others.

Last week, Wealthy has raised $1.3 Mn in a round led by early-stage venture capital firm Good Capital. Whereas, earlier in September 2019, Groww raised $21.3 Mn in its Series B round led by fintech-focussed investment firm Ribbit Capital.

 

 

 

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

PayU Enters Indian Wealthtech Segment With $11 Mn Investment In Fisdom-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

PayU Enters Indian Wealthtech Segment With $11 Mn Investment In Fisdom-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

PayU Enters Indian Wealthtech Segment With $11 Mn Investment In Fisdom-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

PayU Enters Indian Wealthtech Segment With $11 Mn Investment In Fisdom-Inc42 Media
PayU Enters Indian Wealthtech Segment With $11 Mn Investment In Fisdom-Inc42 Media
You’re in Good company