IndianMoney.com Raises Funds From Hyderabad Angels
by Pranali Shah
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.
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