IndianMoney.com Plans To Raise Rs 2.5 Crore from VC Funding

by khalid on 06/03/2011 · 1 comment

Founder & CEO of Suvision Holdings Pvt. Ltd. C.S.Sudheer is planning to raise Rs 2.5 Crore from VC Funding channel by diluting 25% stake, for expansion of its online portal IndianMoney.com. The deal will value the company at Rs.10 Crore. IndianMoney founded in 2008, provides free financial advisory services to people on their investments through online and offline mode. Company does not sell any financial products. It also offers its services by partnering with colleges through franchise network.

It also runs ‘Money School’, a platform by Indianmoney.com which offers a collection of more than 15,000 pages of articles on finance, 5,000 financial terms and various financial games.

It has a network of over 1000 associates (insurance agents, financial advisors, real estate broker/agents, bank DSAs, mutual fund agents, etc.) across India and has partnered with over 60 colleges. It also has a network of 25 franchisees. Suvision has around 42 employees. Company earns revenue from its network of associates by giving lead to them and charges Rs.300 per client advised by its associates.

It plans to add 150 franchise network in next 1 year and 400 franchise and 8000 colleges in next 2 years. Its franchise fee ranges from Rs.25,000-Rs.2,50,000.

For FY2010, company generated revenues of Rs.30 lakhs. Revenue for FY 2011, till Jan end is Rs.44 lakhs. Company’s valuation of Rs.10 Cr is around 20 times its current revenues.

Other players in similiar kind of business are rupeetalk.com, which was acquired by NetAmbit last December, itrust.in which was acquired by Karvy Private Wealth earlier this month, apnapaisa.com, paisawaisa.com etc.

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LIC May 28, 2011

LIC or the Life Insurance Corporation of India is an entirely government owned entity and enjoys the position of being India’s largest insurance company apart from being nation’s biggest investor. LIC was incorporated in 1956 and has been functioning pretty consistently.

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