What’s interesting about FundsIndia is that it isn’t a lead generation platform – it’s a transactional platform allowing users to link their bank accounts with investment options like mutual funds, equities, and fixed deposits, with options for managing multiple accounts, and automatically triggering investment related activities. According to its website, the company has partnerships with 29 mutual fund companies, 19 banks for online transactions, 6 Corporate – Fixed deposits online, and equity broking services for the National Stock Exchange. The company also plans to launch an insurance platform shortly.
The site offers users a common login for managing investments of multiple family members, with joint holding mechanisms for accounts, a single bank mandate for multiple systematic investment plans (SIP) investments, alerts, trigger based investing, (based on Sensex, portfolio returns or particular NAV value), which also allows you to set up a switch in investment, as well as an equity platform, apart from fixed deposits with companies including HDFC, LIC HF, ICICI HF and Shriram
WIFS was founded by C R Chandrasekar and Srikanth Meenakshi in October 2008, and launched the site in June 2009. Kanwal Rekhi and Parag Dhol will join the founders on the board of the company.