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The Fisdom Story: How a Small Wealthtech Startup is Shaking Up the Investment Landscape

Written by - Team Fisdom

July 14, 2023 4 minutes

Fisdom, the brainchild of Anand Dalmia and Subramanya SV, was conceived in 2015 under the umbrella of Finwizard Technology. Their goal? To revolutionize the labyrinthine world of investments. At the time, investing was a daunting task, leaving customers entangled in lengthy KYC procedures that could stretch to days or even weeks. Fisdom’s founders envisioned a different future – one where investing was straightforward, accessible, and reliable.

Let’s delve deeper into Fisdom’s journey, exploring how it has demystified investment for millions across India.

Fisdom’s founders

Subramanya SV

Subramanya (Subu), one of the co-founders of Fisdom, brought his extensive experience in venture capitalism into the company. Prior to Fisdom, he was a partner at the global venture capital firm Bessemer Venture Partners (BVP) and held the position of Managing Director for its India operations. His responsibilities included being on the board of burgeoning tech companies like Bharat Matrimony, Taxi for Sure (later acquired by Ola), and Snapdeal. This close involvement with early-stage tech founders, coupled with an overarching perspective on India’s burgeoning digital ecosystem, kindled Subu’s entrepreneurial spirit.

Anand Dalmia

Anand, the other half of Fisdom’s founding duo, entered the venture with a rich background in investment banking. He led technology investment banking for prestigious institutions such as UBS and Macquarie Group. His close association with technology companies allowed him to witness the seismic shifts occurring in the digital sphere, sparking his desire to embark on his own entrepreneurial path.

Today, Fisdom stands tall with a robust workforce of 406 employees spread across 10+ offices in key Indian cities including Bengaluru, Mumbai, Jaipur, Chennai, Kolkata, and Delhi. Further extending its reach, Fisdom has a presence in over 800 cities and towns across the length and breadth of India.

From humble beginnings to grand ambitions

Fisdom began its journey with a single product – mutual funds – in 2016. Since then, it has broadened its horizons, offering a wide array of investment products ranging from stocks, bonds, ETFs to smallcase offerings.

Here are some of Fisdom’s key milestones:

  • Became the first company in India to digitize the account opening and KYC process entirely, setting a new benchmark for the industry.
  • Introduced a payment gateway for processing mutual fund transactions on the BSE platform, digitized Pension funds (NPS), and launched a goal-oriented investment solution.
  • Diversified offerings to include insurance, tax filing, and stock broking.
  • Stepped into the realm of HNI wealth management, catering to both mass-affluent and affluent customers.
  • Formed successful partnerships with large banks, allowing their customers to access investment solutions directly through their mobile banking apps and branches.
  • Collaborated with 15 national and regional banks, fuelling their wealth-tech business.
  • Currently serves a staggering one million customers.

Fisdom’s impressive track record

Fisdom’s Assets Under Management (AUM) have doubled every year since its launch in 2016. As of August 2022, the AUM stood at an impressive Rs.5,000 Crores.

With an active customer base of 1 million across all financial products, Fisdom has raised a total of $45 million across three rounds from notable investors such as Prosus Group(via PayU), Quona Capital, and Saama Capital.

Fisdom has also forged strong partnerships with 15 prominent banks including Punjab National Bank,Indian Bank, UCO Bank, City Union Bank, Tamilnad Mercantile Bank, and Karnataka Bank, among others.

Awards and recognitions

Fisdom has been honored with multiple prestigious awards reflecting its commitment to excellence in the fintech sector.

  • Awarded ‘Best Fintech Company’ for FY20 and FY21 at the Financial Express Best of Banks Awards.
  • Honored as the ‘Best Financial Services Partner’ in 2022 at the PICUP event, backed by FICCI, Indian Banks’ Association, and BCG.
  • Included in the ‘WealthTech 100’ global list in 2020.
  • Received the ‘Best Performing National Financial Advisor (Online)’ award in 2019 from CNBC-TV18 & UTIMF.
  • Named the ‘Most Popular Personal Finance App’ in 2019 by ET Panache.

Fisdom: A nexus of people power, technology  and innovation

Fisdom offers an extensive range of user-friendly products and services to help investors achieve their financial dreams. It features the OnePercent Academy, an education initiative covering everything from investment strategies to stock market basics. Unlike competitors, Fisdom leverages technology to simplify investing, enabling easy transactions and providing access to comprehensive investment research. The company’s growth since its 2015 inception is attributed to its dedicated team of financial experts committed to guiding users through their investment journey.

The future of Fintech

Like a visionary artist with a palette of financial solutions, Fisdom is poised to paint a new picture of the financial sector. With its innovative app as its brush and strategic partnerships with major banks as its canvas, it’s creating a masterpiece for first-time investors. As Fisdom plans to quadruple its customer base in the coming years – akin to adding more vibrant colors to its painting – it continues to drive innovation and shape a bold and exciting future for finance.

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