WestBridge Capital, a leading private equity firm in India, has acquired a majority stake in FundsIndia, a leading digital investment platform.
The deal, which was announced on August 22, 2023, is valued at an undisclosed amount.
FundsIndia was founded in 2009 by Chandrasekar and Srikanth Meenakshi.
The company provides a platform for investors to research and invest in mutual funds, stocks, bonds, and other financial products.
FundsIndia has over 25 lakh customers and over ₹10,000 crore of assets under management.
Image: WestBridge
WestBridge Capital said that it plans to invest in FundsIndia’s growth by expanding its product offerings and geographic reach. The firm also said that it is committed to maintaining FundsIndia’s culture and values.
The acquisition of FundsIndia is WestBridge Capital’s latest investment in the financial services sector.
In recent years, the firm has also invested in other financial services companies, such as Policybazaar and Paisabazaar.
The financial services sector is expected to continue to grow in India in the coming years.
WestBridge Capital’s investment in FundsIndia is a sign of the firm’s confidence in the long-term growth prospects of the financial services sector in India.
