• Steadview Capital had invested $30 Mn in INDwealth in an earlier round
• INDwealth will use the funds towards building its technology and R&D
• It will also invest to boost customer acquisition and marketing programmes

Gurugram-headquartered fintech startup INDwealth has raised $15 Mn in a funding round from New York-based hedge fund Tiger Global. The investment comes nearly 10 months after INDWealth raised $30 Mn from Steadview Capital.

The company said it would be using the fresh funds to execute and scale the INDwealth platform. It also plans to ramp up development on its technology platform including artificial intelligence, research and development and the advisory team as well as invest towards innovative customer acquisition and marketing campaigns.

Founded in 2018 by serial entrepreneur Ashish Kashyap, Pratiksha Dake and Varun Bhatia, INDwealth is a personal financial advisory agent, which offers advice across asset classes, loans, and tax management. It enables consumers to organise and track their wealth across investments, loans, expenses and taxes and in turn get machine learning-driven recommendations to improve their financial future and cash flows.

“We are excited to partner with Ashish and the INDwealth team, who we think have the strategic vision to transform the wealth management industry in India. We believe INDwealth has a tremendous opportunity for growth by delivering low-cost, transparent, and personalized financial management services,” said Scott Shleifer, partner, Tiger Global Management.