INDmoney raises $75 million

Indian startup INDmoney, formerly known as INDwealth, has raised $75 million in a new round of funding co-led by Tiger Global, Steadview Capital, and Dragoneer. To date, the startup has raised $133 million.

Founded in 2019, INDmoney describes itself as a super money app. It allows users to track their finances on a single platform and helps them invest across various financial instruments including mutual funds, fixed deposits, stocks and bonds. It also gives users wealth planning solutions as part of its premium offering. Additional premium benefits include access to life and health insurance.

The startup claims to have 3.5 million registered users who track more than $15 billion in investments.

“We are very excited with the amount of consumer love that we have received for INDmoney. This is driven by the fact that we are solving a very large and difficult problem in the financial services space of truly becoming the one-stop shop for finances. The fact that our current investors Tiger, Steadview and Dragoneer are doubling down and new investors are joining, further validates the power of the platform and the strong execution capabilities of the team.” – Ashish Kashyap, founder at INDmoney.

“Steadview has been impressed with the INDmoney team’s ambition and execution towards building India’s premier digital bank, redefining how people build financial security with a user-friendly, easy-to-use, mobile-native platform.” – Ravi Mehta, founder of Steadview Capital.