FundsIndia
Headquarters
| Uttam Building, Third Floor, No. 38 & 39, Whites Road,
Royapettah
,
|
---|
Owner
| Wealth India Financial Services
[1]
|
---|
CEO
| Girirajan Murugan
|
---|
Products
| Mutual funds, SIP, stocks, equities, corporate deposits, bonds, IPOs, and NCDs
|
---|
Services
| Advisory services, different types of SIPs, ready-to-go portfolios, Robo-advisory services (Money Mitr), trigger-based investing, Portfolio X-Ray, Value-averaging Investment Plans (VIPs), e-insurance repository, and other
financial services
|
---|
URL
| www
.fundsindia
.com
|
---|
FundsIndia
(est. 2009) is an online
investment
website headquartered in
Chennai
,
Tamil Nadu
.
[2]
[3]
The website is owned by Wealth India Financial Services Pvt. Ltd.
[1]
It was initially created just for
mutual funds
but later introduced other investment products like
stocks
, corporate fixed deposits,
bonds
, and more.
[4]
FundsIndia was founded by C.R. Chandrasekar and Srikanth Meenakshi,
[5]
alumnus of the
University of Hyderabad
.
[6]
[7]
History
[
edit
]
Chandrasekar and Srikanth, were hostel mates while pursuing their Masters in Computer Applications (MCA) at the University of Hyderabad,
Andhra Pradesh
, in 1990. After they completed their post-graduation there, they both moved to the
United States
of America to pursue their postgraduate degree in Computer Science. Chandrasekar pursued his Masters at
Virginia Tech
in
Blacksburg
,
Virginia
, while Srikanth studied at the
Oregon Graduate Institute
in
Portland
,
Oregon
. They both began working in a variety of high-profile jobs in the field of
financial services
and after over a decade, they decided to return to India in order to stay closer to their respective families.
[6]
Eventually, they decided to launch an online
mutual fund
investment website together after realizing that most platforms in the country only offered access to investments in equities online.
[8]
Hence, FundsIndia was launched on 16 June 2009.
[1]
[2]
Initially, Chandrasekar and Srikanth pooled in their savings of about ?1.5 crore in order to launch FundsIndia in 2009.
[6]
In 2010, the company found that they required additional funding to fuel their growth and hence, they approached the
venture capital
firm, Inventus Capital Partners. However, the company was asked to approach them for funding at a later date, once it had shown a good performance record. Within nine months, FundsIndia was successful in acquiring several customers and earning higher revenues. Impressed by their performance, Inventus Capital Partners invested ?3 crore in the firm.
[9]
This was FundsIndia’s
Series A round
of funding that was used to expand their customer base and introduce new products and services. After this, Parag Dhol, the Managing Director of Inventus Capital Partners assumed the post of Director in FundsIndia’s management.
[10]
In July 2012, the company raised an amount of ?20 crore in its Series B round of funding that was led by the Silicon Valley-based venture capital firm,
Foundation Capital
. Inventus Capital Partners also participated in this round of funding. After this round of investment, Ashu Garg, General Partner, Foundation Capital, also assumed a post as director at FundsIndia.
[11]
In June 2015, the company further raised an amount of ?70 crore in its Series C round of funding. This round of funding was led by the venture capital firm, Faering Capital, with follow-on investments from current investors, Foundation Capital, and Inventus Capital Partners.
[12]
After this round of investment, both Sameer Shroff and Aditya Parekh, co-founders and Managing Directors, Faering Capital, assumed a post each as director at FundsIndia.
[13]
References
[
edit
]
- ^
a
b
c
"Wealth India launches online investment platform"
.
The Hindu
. Chennai, India. 17 June 2009. Archived from
the original
on 20 June 2009
. Retrieved
24 September
2013
.
- ^
a
b
Adajania, Kayezad (17 June 2013).
"Buying mutual funds online is not difficult"
.
Livemint
. India
. Retrieved
24 October
2013
.
- ^
Shankar Roy, Kumar (2 August 2010).
"Inventus Capital puts Rs 3 crore in WIFS"
. India: mydigitalfc.com. Archived from
the original
on 5 August 2010
. Retrieved
24 October
2013
.
- ^
Dhanorkar, Sanket (15 April 2013).
"Online investing: Tips to manage your investments through portals"
.
The Economic Times
. India. Archived from
the original
on 17 April 2013
. Retrieved
24 October
2013
.
- ^
Gajjar, Paritosh (31 July 2012).
"FundsIndia Raises Another Round Of Funding"
. India: Deal Curry
. Retrieved
24 October
2013
.
- ^
a
b
c
Srivastava, Ishan (13 February 2011).
"Mutual Fundas"
.
The Times of India
. Retrieved
28 October
2013
.
- ^
Vijayakumar, Sanjay (26 June 2019).
"PE investors oust FundsIndia.com founders"
.
The Hindu
.
ISSN
0971-751X
. Retrieved
30 June
2021
.
- ^
Vidya Bala; Aarati Krishnan (8 August 2010).
"No-frills mutual fund investing"
.
The Hindu Business Line
. India
. Retrieved
28 October
2013
.
- ^
Peerzada Abrar; Vasumita s Adarsh (11 October 2013).
"Entrepreneurs must have ability to build top-notch teams with ideas to impress investors"
.
The Economic Times
. India
. Retrieved
24 October
2013
.
- ^
Pradhan, Anmol (3 August 2010).
"FundsIndia.com Raises Rs. 3 Crore From Inventus Capital"
. India: Medianama
. Retrieved
28 October
2013
.
- ^
Das, Nandana (31 July 2012).
"FundsIndia.com raises $3.6M in Series B funding led by Foundation Capital"
. India: techcircle.in
. Retrieved
24 October
2013
.
- ^
Varadharajan, S. (20 June 2015).
"Fundsindia gets Rs. 70 cr funding"
.
The Hindu
. Chennai, India
. Retrieved
9 September
2015
.
- ^
Mahesh, Prahsant (18 June 2015).
"FundsIndia.com raises Rs 70 crore for expansion"
.
The Economic Times
. India. Archived from
the original
on 23 August 2016
. Retrieved
9 September
2015
.
External links
[
edit
]
Financial services in India
|
---|
Banking
|
---|
Commercial
banking
| |
---|
Investment
banking
| |
---|
Institutions
| |
---|
|
|
Asset management
|
---|
Hedge funds
| |
---|
Mutual funds
| |
---|
InvITs
| |
---|
|
|
|
|
Alternative financial services
|
---|
|
|
Angel investment, venture capital & private equity
|
---|
Angel investments
| |
---|
Venture capital
| |
---|
Private equity
| |
---|
|
|
Legislation & regulation
|
---|
Banking
| Authorities
& boards
| |
---|
Legislation
| |
---|
|
---|
Asset
management
| Legislation
|
- The Unit Trust of India Act, 1963
- Indian Registration Act, 1908
|
---|
Other regulations
|
- SEBI (Mutual Funds) Regulations, 1993
|
---|
|
---|
Insurance
| Authorities & boards
|
- IRDAI
- Insurance Association of India
- Life Insurance Council
- General Insurance Council
|
---|
Legislation
| In force
| |
---|
Repealed
| The British Insurance Act, 1870
|
---|
|
---|
|
---|
Financial
markets
| Authorities & boards
| |
---|
Legislation
| In force
|
- SEBI, Act 1992
- Forward Contracts (Regulation) Act, 1952
- The Securities Contracts (Regulation) Act, 1956
|
---|
|
---|
|
---|
Alternative
financial
services
| Authorities & boards
| |
---|
Legislation
| Microfinance
|
- Tamil Nadu Money-Lenders Act, 1957
- The Bombay Money-Lenders Act, 1946
- The Karnataka Money-Lenders Act, 1961
- The Kerala Money-Lenders Act, 1958
- Bengal Money-Lenders Act, 1940
- The Rajasthan Money-Lenders Act, 1963
|
---|
Other
|
- Multi-State Cooperative Legislation Act, 2002
- Mutually Aided Cooperative Acts
- The National Housing Bank Act, 1987
- The Chit Funds Act, 1982
|
---|
|
---|
|
---|
Alternative
investment
funds
| Authorities & boards
|
- Indian Association of Alternative Investment Funds (IAAIF)
|
---|
Legislation
| |
---|
Regulations
|
- SEBI (Venture Capital Funds) Regulations, 1996
- SEBI AIF Regulations, 2012
- SEBI (Investment Advisers) Regulations 2013
|
---|
|
---|
|
|
Online brokerages
|
---|
Companies
| Canada
| |
---|
India
| |
---|
United States
| |
---|
Europe
| |
---|
Asia
| |
---|
Elsewhere
| |
---|
|
---|
Concepts
| |
---|
|
|
---|
Payment gateways
| |
---|
Mobile wallets
| |
---|
Online investments
| |
---|
Lending
| |
---|