Personal finance and wealth advisory platform, Fisdom democratizes access to traditional financial systems for India’s largely underbanked but rapidly growing population. The Company offers a simple app enabling first-time market participants to make intelligent investments in savings and capital-market products (e.g., mutual funds and stocks) along with value-added services (e.g., tax filing).
Recently, with Indians becoming comfortable with investing in assets other than real estate and gold, India has been witnessing unprecedented financialization of household savings. The benefits of this, however, have accrued only to the top of India’s income distribution.
Recognizing this, Saama bought into Fisdom’s vision of opening up the benefits of financialization to folks who don’t only bank with top-tier public and private financial institutions. Moreover, with deep experience across various facets of finance – from venture capital and private equity to investment banking and wealth management – Fisdom’s founding team exhibited the proper context and strategic access to rapidly deploy and scale this business.
Today, Fisdom provides investors access to a multitude of products – including equities, derivatives, IPOs, FPOs, buybacks, sovereign gold bonds, NCDs, currencies, ETFs, etc. The Company has partnered with several banks (e.g., Indian Bank and Uco Bank) and digital partners (e.g., Moneycontrol and Google Pay) to offer financial products to their customers.