Chennai-based Wealth India Financial Services (WIFS), the company behind online investment services platform FundsIndia.com, has raised Series C funding worth $11 million led by Faering Capital and follow on investments from existing investors Foundation Capital and Inventus Capital Partners, reports VCCircle. FundsIndia will use the funds to expand its online financial services across the country and add to its service offerings, with a focus on mobile platforms. As part of the deal, Faering Capital’s Sameer Shroff and Aditya Parekh will join the board of FundsIndia, and Ashu Garg of Foundation Capital and Parag Dhol of Inventus Capital will continue to be on the board with the founders of FundsIndia. About 3 years ago, FundsIndia had raised Rs 20 crore from Foundation Capital and Inventus Capital, which was supposed to be used for customer base expansion and enhancing the company’s online platform with new products and services. In 2010, it had raised Rs 3 crores in Series A round of funding from Inventus Capital Partners. Kanwal Rekhi and Parag Dhol had joined the founders on the board of the company at that point. Founded by C R Chandrasekar and Srikanth Meenakshi in 2008, FundsIndia is an online investment services platform that caters to retail investors for investments in mutual funds, equities, corporate deposits and equity investment. It offers mutual funds from all AMCs, stocks and ETFs from BSE, fixed deposit products from companies, Reliance MyGold Plan and other services. It also allows users to link their bank accounts with investment options like mutual…
