IndianMoney raises Rs 19 cr, looks to scale up operations

BENGALURU: Financial awareness and education company IndianMoney has raised $3 million (about Rs 19 crore) in a series-A round led by early-stage venture capital firm Sri Capital which also saw the participation of its angel investor Hyderabad Angels. The Bengaluru based company, which offers free consultancy services to potential investors, plans to scale up operations with this round of fundraising.

“We are trying to bridge the information asymmetry that exists in the country through our consultation programme for retail investors, and in the process we generate leads for agents, brokers and corporate entities, which is the source of revenue for the company,” said IndianMoney founder CS Sudheer.