Fisdom, a Bangalore, India-based personal finance management startup, raised $4m in Series B funding.
The round was led by Accion Frontier Inclusion Fund, managed by Quona Capital with participation from existing investor Saama Capital.
The company intends to use the funds to further enhance its technology, expand its team and customer acquisition efforts, and to roll out more financial products like insurance and NPS.
Founded by Subramanya SV, a former Managing Director at Bessemer Venture Partners in India, and Anand Dalmia, a veteran investment banker, most recently at Macquarie, Fisdom provides an online wealth management app that allows users to make smart financial and investment decisions from their mobile phones. Currently, it enables customers to invest in mutual funds with onboarding, advisory, transactions, tracking and rebalancing completely digital and automated.
Previously, the company raised $1.1m from Saama Capital in Series A in October 2016, and $500k from a group of global angel investors.