Dhruv Pathak has been named chief technology officer of wealth management platform IndMoney, the company announced in a statement.
Pathak was a founding member of the technology team at Goibibo, a travel app founded by IndMoney founder and CEO Ashish Kashyap. Pathak was appointed senior vice president of technology following the merger of Goibibo and MakeMyTrip, and he was in charge of developing technology interventions for both travel brands’ hotel platforms.
IndMoney, which was founded in 2019, allows users to track and organize their finances on a single platform, as well as invest in a variety of financial instruments such as mutual funds, fixed deposits, bonds, and US stocks. It also assists users with financial planning.
In March, IndMoney raised $86 million in a new round of funding, valuing the company at $650 million post-money.
The company intended to use the funds to launch a credit-card-based product for users, which would be linked to its neo-bank. It also recently received the licenses required to launch its stock trading platform, which will allow users to invest in Indian equities.
“I am thrilled to be a part of the IndMoney team as we work together to create tech-driven, trustworthy products. The solutions boost people’s efforts to manage and plan their financial lives and achieve their goals “Pathak stated.
IndMoney claims to have over five million users and to have helped its customers invest over $1.1 billion.
Tiger Global, Steadview Capital, Dragoneer, and Sixteenth Street Capital, among others, have invested a total of $144 million in the company to date.
