Arthayantra looking to raise $10 million

CEO Vyakaranam says the firm is in talks with overseas investment firms for growth capital
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First Published: Thu, Nov 22 2012. 08 06 PM IST
The firm plans to invest a portion of the money it raises to expand operations in Bangalore, Delhi, Chennai, Mumbai and Pune over the next 12 months. Photo: Mint
The firm plans to invest a portion of the money it raises to expand operations in Bangalore, Delhi, Chennai, Mumbai and Pune over the next 12 months. Photo: Mint
Hyderabad: Arthayantra Corporation Pvt. Ltd, a personal financial services company, plans to raise $10 million over the next six months to expand operations across major metropolitan cities.
Arthayantra, based in Hyderabad and founded by a group of alumni from the Indian School of Business (ISB), is in talks with multiple investment firms overseas for growth capital, Nitin B. Vyakaranam, founder and chief executive officer, said.
“Right now we are not looking (for funding) in India. We are talking to multiple players in Europe and United States,” Vyakaranam said at the launch of a personal finance platform on Thursday. The company raised an undisclosed sum from New York-based investment firm WFA Global Investments on 6 November.
A portion of the money it raises will go toward expanding its operations to Bangalore, Delhi, Chennai, Mumbai and Pune over the next 12 months, and for marketing efforts in these cities, Vyakaranam said.
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First Published: Thu, Nov 22 2012. 08 06 PM IST
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