022 24172311
Venture Capital
Private Equity

DataBoard Demo
Venture Capital | 8 October 2013

IndianMoney.com Raises Funds From Hyderabad Angels

by Pranali Shah
IndianMoney.com Raises Funds From Hyderabad Angels
Share on Social Media Email Facebook Twitter Linkedin

Financial education company, IndianMoney.com closed its first institutional funding from Hyderabad Angels, press release states. It plans to use the funds for upgrading their current technology platform along with marketing and branding and a portion of it would also be utilised to build better infrastructure to facilitate the consistently growing business.

Pradeep Mittal, former head of Magna infotech's Indian operations and Srini Koppulu, former M.D of Microsoft India lead this investment. With this investment, Mittal joined the Board of IndianMoney.com representing Hyderabad Angels.

In 2011, the company had received funding from well known Angel Investors RavindraKrishnappa and ShekharKirani. The company has grown 15 times in its revenue since the last investment.

Founded in 2008 by C S Sudheer, Suvision Holding's online portal IndianMoney.com empowers people with all the information it needs to know before buying any financial product. It provides free financial advice / education to ensure retail customers not misguided while buying any kind of financial product. The company has guided over 4lakh people to make informed decisions while buying financial products.

VertExperts Consulting LLP and Hyderabad Angels are the investors of the company.

Hyderabad Angels are individuals who are experienced seasoned business men and women, who are entrepreneurs themselves and who invest their own capital. It has also invested in online travel company Thrillophilia.com, for an undisclosed stake along with other investors.

In this space, Edu-platform Simplilearn raised $10 Mn in Series B funding from Helion venture Partners and Kalaari Capital.

Tata To Acquire AES India's Wind Biz

Tata To Acquire AES India's Wind Biz

Tata Power is acquiring AES Saurashtra Windfarms Pvt Ltd, the local wind business of Virginia-based AES’s Indian arm, Bloomberg states. The deal would hike Tata’s current capacity by 10% taking it to 437 MW. The deal value was not disclosed.


UTI Ventures Divests its Shares in Ascent Capital

UTI Ventures Divests its Shares in Ascent Capital

UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.

Enter your Email address
to receive all the news