Fincash.com, an online mutual fund distributor has raised Rs.1 crore from angel investors in its second round of funding, said the company in a press release today.
The distributor plans to grow its business by expanding the team and technology. “We plan to utilize this for team and product line expansion coupled with marketing,” the company said.
They plan to expand their existing product solutions namely SmartSIP, SavingsPlus, and TaxSaver. “There will be new categories within these solutions that will help customers to invest as per their financial goals and time frames. Investors will get wide choices to invest in different time frames, right from very short, short, mid to long duration, as per their investment needs & risk-appetite. They can simply make a goal-wise investment via these solutions,” Gaurav Perti, CEO, Fincash.com.
Fincash launched in 2016 has raised a total Rs.1.6 crore funding to fund its business expansion so far. It had raised around Rs.60 lakh from its first round of funding in June 2017. Few of their angel investors are Mohammed Khan, founder of Rediffusion and Sameer Narayan, ex-fund manager of BNP Paribas Mutual Fund.