Super-money app, INDmoney has raised USD 75 million in a Series D round led by marquee global investors. After the Series D round, the valuation of INDmoney witnessed a jump of over three times from its last round and stood $635 million,
INDmoney has sanctioned the allocation of 42,636 Series D preference shares at an issue price of Rs 562.5 crore or $75 million. Tiger Global, Steadview Capital and DF International Partners have put Rs 187.5 crore or $25 million each.
The Ashish Kashyap-led company has raised $133 million since its inception in 2019.
After the fresh allotments of shares, Kashyap’s holding retains from 35.63% to 31.09%. Steadview, Tigerfundraisea Global and DF International Partners have increased their respective holdings to 37.32%, 17.66% and 6.4%.
📢We are thrilled to announce a fund raise of $75 Million💰 in Series D round from marquee global investors 🤝comprising Steadview Capital, Tiger Global & Dragoneer Investment Group!#funding #Investment pic.twitter.com/rNeSePGrPR
— INDmoney (@INDmoneyApp) January 17, 2022
“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,” Ashish Kashyap, founder at IndMoney. “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”, he added.
INDmoney (previously known as INDwealth) was launched in 2019 to deliver a better financial future to individuals and families. The brand is owned by Finzoom Investment Advisors Ltd, a SEBI registered Investment Advisory entity.
