The company would use the investment to widen the reach of its online financial services across the country. It would also be utilised to enhance its service offering with special focus on mobile platforms.
Of the total Rs 70 crore investments, the round was led by domestic asset management company Faering Capital followed by FundsIndia.Com's current investors -- Foundation Capital and Inventus Capital Partners, the company said today.
"FundsIndia.Com currently has investor base of 70,000 and plans to increase it to over 225,000 by 2016," FundsIndia.Com CEO CR Chandrasekar told reporters here.
The company is targeting to increase transactions through mobile platform to nearly 40-45 per cent from current 25 per cent within next one year.
Also Read
"Over the last six years, we have demonstrated that technology enabled advisory services (robo-advisory) using online platforms is the best way to deliver good financial advice to lot of people," the CEO said.
"This round of funding will further strengthen our efforts towards maximum reach and maximum impact without diluting quality," he added.