Bangalore: FundsIndia.com, owned and operated by Wealth India Financial Services Pvt Ltd (WIFS) has procured $3.6 million in its B round of funding. This second round of funding was led by US based Venture Capitalist company Foundation Capital.

Inventus Capital, existing investors of FundsIndia.com also participated in this round. Ashu Garg, from Foundation Capital will join the board of the receiving company and Parag Dhol from Inventus Capital will continue his term on board as reported by Watblog.com.

Since this is a pure web based business it can have two priorities for its mutual fund management portal, it may use the funding capital to enhance customer base and add more products and services.

Interestingly, during its incubation period the company had pooled in almost 75% of seed capital and the rest was invested by Inventus Capital. This existing investor had put in $500,000 when the company was initiated in 2010.

Technology has seen its best use in this era and emphasis on safety and security has been taken on a serious note, this has made many companies switch their manual process to a much more sophisticated user free websites for customers.