Times Internet, has recently acquired moneysights, an innovative personal finance platform for an undisclosed amount.
moneysights was founded in 2009 by Mukesh Kalra & Santosh Navlani, both early employees at InMobi, as a digital platform that enabled consumers to discover, personalize, buy, and manage their investments. The venture was put on hold due to funding constraints in 2012.
moneysights will now be further developed within Times Internet, and will operate under the leadership of its co-founder, Mukesh Kalra.
moneysights had earlier raised $270k from from ex-HP & IBM senior executive Prasad Duvvuri, Blume Ventures & inmobi’s Naveen Tewari in June 2011.
Satyan Gajwani, CEO of Times Internet said: “Mukesh and team hit upon a key consumer need: a smarter, more transparent way to manage your money. This was moneysights’ goal when it started, and we are happy to work together to actualize that vision. Mukesh has a great understanding of product and technology, and is passionate about the opportunity. We’re excited to jointly take forward this mission.”
Mukesh Kalra, Co-Founder of moneysights said: “When we were building moneysights a few years ago, we realized that while we had a strong product and a great team, key levers for success in the personal finance space were missing – Brand which exudes Trust, Distribution channel with access to large captive audience and a Partner with a longer term vision. With Times, all the three levers get completed and hence we have this unique chance to build a hugely successful business in this space”.