Times Internet acquires personal finance portal Moneysights

NEW DELHI: Digital product company Times Internet on Monday announced that it has acquired personal finance platform moneysights. The innovative platform was set up by Mukesh Kalra and Santosh Navlani in 2009 as a digital platform that enabled consumers to discover, personalise, buy, and manage their investments.

In its early years, the company had raised funding from ex-HP and IBM senior executive Prasad Duvvuri, Blume Ventures and also from Naveen Tewari, the founder of mobile advertising firm InMobi where both Kalra and Navlani had worked previously.

"Mukesh and team hit upon a key consumer need: a smarter, more transparent way to manage your money. This was moneysights’ goal when it started, and we are happy to work together to actualise that vision," said Satyan Gajwani, CEO of Times Internet.

"Mukesh has a great understanding of product and technology, and is passionate about the opportunity. We’re excited to jointly take forward this mission," he said. While the platform was a powerful idea, it was a bit ahead of its time. Due to funding constraints the venture was put on hold in 2012 but it will now be further developed within Times Internet, and will operate under the leadership of its co-founder Mukesh Kalra. Times Internet is a part of The Times of India Group.