Indmoney
6 known investors
INDmoney is an Indian digital investment and personal finance app for Indian and US stocks, mutual funds and net-worth tracking.
Also known as Finzoom Investment Advisors Private Limited · INDmoney · INDMONEY TECH PRIVATE LIMITED · INDstocks Private Limited
Investors · 6
Also in the syndicate · 5
Valuation · disclosed
Disclosed eventsSource: SEC prospectus filings, and round valuations the company or its investors disclosed — follow each entry's link for the claim.
Company profile
researched Aug 2026INDmoney is a Gurugram-headquartered fintech operating a consumer investment and personal finance application in India. The platform lets users open a demat account and invest in Indian shares, ETFs and IPOs, invest in US stocks and global ETFs including fractional shares from as little as $1, run daily, weekly or monthly SIPs in stocks and mutual funds from ₹100, and access margin trading facility. Alongside broking, the app distributes mutual funds, fixed deposits, bonds, NPS and insurance, supports UPI payments and bill payments, and facilitates lending through partner banks and NBFCs under the InstaCash product, with loans provided by Kisetsu Saison Finance (India), IDFC First Bank and Axis Bank.
A second pillar of the product is aggregation and tracking: users link bank accounts, credit cards, SIPs, bonds, NPS, fixed deposits, stocks and mutual funds to see a unified view of assets and liabilities, monitor family net worth, set financial goals and use planning tools such as SIP calculators and retirement planners. The service is delivered through a group of licensed entities: INDmoney Tech Private Limited (formerly Finzoom Investment Advisors Private Limited) owns and operates the website and app; INDstocks Private Limited is a SEBI-registered stockbroker, depository participant and research analyst; Finzoomers Services Private Limited is an IRDAI-registered corporate agent and PFRDA point of presence; and INDmoney Global (IFSC) Private Limited is an IFSCA-registered broker dealer and depository participant.
Founding story
INDmoney was founded by Ashish Kashyap, a serial entrepreneur who previously served as Country Head for Google India, founded the Ibibo Group (Goibibo, redBus) and co-founded PayU India in 2011. After MakeMyTrip's 2016 acquisition of the Ibibo group and a year as President of MakeMyTrip, he moved into fintech to build a personal finance and investing application.
Business model
Consumer-facing financial services delivered through a mobile app and website, spanning broking in Indian and US markets, distribution of mutual funds, fixed deposits, insurance and NPS, payments, and facilitation of loans originated by partner banks and NBFCs. The app advertises free account opening and zero AMC, and free INR-to-USD remittance for US investing.
Traction
The company reported four million registered users and $1.1 billion of investments facilitated at the time of its March 2022 round, five million users in 2022 per a partner bank feature, and over 10 million users with more than seven lakh active investors more recently; the Android app shows 10M+ downloads. Inc42 records FY25 revenue of ₹213.4 Cr, up 66.6% from ₹128.1 Cr in FY24, and 554 employees.
Latest developments
Recent app releases added a Practice Mode for free F&O trading with virtual money, a redesigned stock details page, a 'Daily Hunt SIP' that automates buying at user-set dip levels for stocks and ETFs, and research analyst insights with price targets and downside risks.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Described as a soonicorn digital brokerage and wealth management platform in India; press coverage positions it alongside other Indian investing platforms such as Groww, with Cred also noted as preparing to enter stock trading.
Combines Indian and US market investing in a single app with fractional US shares and free INR-USD remittance, alongside a broad aggregation layer covering net worth, external holdings and expenses, and a licensed multi-entity stack spanning broking, depository, insurance agency, NPS and IFSC broker-dealer activities.
Technology
Mobile-first application with account aggregation across banks, cards and investment accounts, real-time market data and news, price alerts, virtual-money practice trading for F&O, automated dip-buying SIPs and research-backed insights including price targets.
Go-to-market
Direct-to-consumer distribution via the INDmoney mobile app (10M+ Google Play downloads) and website, with low minimum ticket sizes (SIPs from ₹100, fractional US shares from $1) to lower the barrier to entry, and partnerships with banks such as SBM Bank India that underpin the neo-banking and US-stock features.
Retail investors and households in India, including first-time and small-ticket investors seeking exposure to Indian and US equities, mutual funds and other savings products, as well as users tracking family net worth.
Geography
Headquartered in Gurugram, Haryana, India, serving Indian residents; investing services cover Indian markets and US markets, with an IFSC-registered entity for offshore access.
History
Inc42 and Economic Times date the company's founding to 2019, while Kashyap's own accounts refer to starting the venture in 2018 and launching the platform in 2019. The business scaled through venture funding from Tiger Global, Steadview Capital, Dragoneer Investment Group and Sixteenth Street Capital, closing an $86 million round at a $650 million post-money valuation in March 2022 and stating total funding of $144 million at that point. It obtained licences to offer Indian equities trading and subsequently added stock broking, depository, IFSC broker-dealer, insurance agency and NPS capabilities across group entities. The operating entity was renamed from Finzoom Investment Advisors Private Limited to INDmoney Tech Private Limited, and INDmoney Private Limited to INDstocks Private Limited.
Risks & controversies
Operations span multiple regulated activities under SEBI, RBI, IRDAI, PFRDA and IFSCA oversight, and the app facilitates third-party lending with APRs of 10-45% over 3-72 month tenures, exposing the business to regulatory and partner-dependency risk.
Compiled by commissioned research from 7 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 4
launches, deals, and filingsApp update introduced a Practice Mode for free F&O trading with virtual money, a redesigned stock details page, a 'Daily Hunt SIP' for stocks and ETFs that automates buying at user-set dip levels, and research analyst insights with price targets.
The company closed an ongoing fundraise at $86 million, including an additional $11 million tranche led by Sixteenth Street Capital, valuing it at $650 million post-money. Earlier tranches came from Steadview Capital, Tiger Global and Dragoneer Investment Group; Lenskart founder Peyush Bansal, Nearbuy co-founder Ankur Warikoo, founder Ashish Kashyap and several senior executives also invested.
$86M source ↗
The company said it had received the licences required to roll out a stock trading platform allowing users to invest in Indian equities.
SBM Bank India powers INDmoney's neo-banking platform, including the capability enabling Indian users to invest in US stocks.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 7
primary sources listed
- INDmoney: Stocks, Mutual Funds - Apps on Google Playplay.google.com · web
7 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Indmoney do?
- INDmoney is an Indian digital investment and personal finance app for Indian and US stocks, mutual funds and net-worth tracking.
- Who are Indmoney's investors?
- Indmoney's investors include Hyderabad Angels.