Fisdom raises $7 million in a fresh funding round

Finwizard Technology Pvt Ltd, which operates wealth management startup Fisdom, has raised $7 million (Rs 51.7 crore) in a fresh funding round.

This exercise in the Bengaluru-based startup has been led by existing investor PayU, with participation from other backers, including Quona Capital and Saama Capital.

Anand Dalmia and Subramanya SV set up Fisdom. It provides technology-enabled wealth management services, including solutions for investments, savings, and protection. The startup says it has partnered with banks and NBFCs, including Oriental Bank of Commerce, Bank of Baroda, and Bajaj Finserv.

It will use this fresh funding for new product development and customer acquisition. The company will also look at acquisition opportunities to add to its product portfolio, said in a statement on Thursday.