INDmoney
- Company typePrivate
- Founded2018
- HeadquartersGurugram, India
- Headcount251–500
- GTM typeB2C
- OfferingServices
INDmoney firmographics
Firmographics- Name
- INDmoney
- Legal name
- INDmoney Tech Private Limited (formerly known as Finzoom Investment Advisors Private Limited)
- Website
- https://indmoney.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Ownership category
- akta.pro rank
Where INDmoney is headquartered
LocationHeadquarters
- HQ city
- Gurugram
- HQ country
- India
- HQ region
- Asia
Offices3 records
Markets served
INDmoney business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- Equity Delivery & Intraday Brokerage: Transaction-based brokerage on Indian equity (delivery and intraday) trades at 0.1% or ₹20 per executed order, whichever is lower, with a minimum ₹2 per order. Regulatory caps apply.
- F&O Brokerage: Flat ₹20 per executed order brokerage on equity Futures & Options and commodity Futures & Options traded on NSE, BSE and MCX.
- US Stocks Brokerage & FX Spread: 0.25% per trade brokerage on US stocks and ETFs executed via DriveWealth/Alpaca; plus 0.5%–1.2% forex conversion charges billed by the partner bank. Zero account opening, AMC, platform and withdrawal fees.
- Mutual Fund Distribution (Direct Plans): Distribution of mutual funds via BSE Star MF as a SEBI-registered stockbroker and AMFI-registered mutual fund distributor (ARN-254564). Zero commissions quoted on direct plans to end users; revenue comes from distributor trails.
- NPS Point of Presence Distribution: Operated via Finzoomers Services Pvt Ltd as a PFRDA-registered Point of Presence (Online) Reg. No. 362042023; revenue from NPS distribution fees.
- Insurance Distribution (Corporate Agent Composite): Operated via Finzoomers Services Pvt Ltd, IRDAI Corporate Agent (Composite) Reg. No. CA0744, soliciting insurance policies for commission.
- Loan Against Mutual Funds / Insta Cash: Facilitation of loans against mutual fund holdings and instant cash products through partner Banks/NBFCs in tie-ups operated by Finzoomers Services Pvt Ltd.
- Fixed Deposit & Savings Account Distribution: Digital platform for selling fixed deposits and opening savings bank accounts in tie-ups with various Banks/NBFCs through Finzoomers Services Pvt Ltd.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Indian Stocks: Zero account opening & AMC; 0.1% or ₹20 per executed order (whichever lower), minimum ₹2 per order. |
| Transaction based/ take rate | Pay-as-you-go | US Stocks: Zero account opening, AMC, platform fee and withdrawal fee; 0.25% per trade brokerage. |
| Freemium | Pay-as-you-go | Mutual Funds: Free account, zero AMC, zero commission on direct plans, zero platform/payment/withdrawal charges. |
| Transaction based/ take rate | Pay-as-you-go | Commodities: Zero activation, zero AMC, ₹20 per order brokerage. |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels7 records
INDmoney product offering
Product offeringCore offering
INDmoney is a mobile and web wealth platform that lets Indian residents invest across Indian stocks, US stocks, mutual funds, ETFs, F&O, commodities, IPOs and NPS from a single app. The platform combines execution (zero-commission direct mutual fund plans, 0.1% / ₹20 Indian equity brokerage, 0.25% US trade brokerage) with a consolidated networth and family-account tracker, automated US-stock SIPs, fractional US shares from $1, and AI-driven personalisation across onboarding, portfolio insights and customer support.
Differentiator
Problem solved
Functional benefit
Brands
- INDstocks: SEBI-registered stock broking and depository participant platform for Indian securities trading, operated under INDmoney's broking subsidiary
- INDwealth
- IND.app
- IND.money
- INDsave.com
- INDmoney Global
Products and services
- INDmoney US Stocks Direct US stock and global ETF investing for Indian residents offering 10,000+ US stocks and ETFs starting from $1 with fractional shares, automated US-stock SIPs, unlimited intraday trading and a GIFT City IFSCA-regulated wallet. Brokerage 0.25% per trade, with zero AMC, platform and withdrawal fees; forex conversion 0.5%-1.2% via partner banks.
- INDmoney Indian Stocks Trading and investing in NSE/BSE-listed Indian equities through INDstocks (SEBI Reg. INZ000305337), including intraday and delivery trading with 0.1% brokerage capped at ₹20 per executed order, stock screeners, sector and thematic screens, and zero AMC.
- INDmoney Mutual Funds Zero-commission direct-plan mutual fund distribution via BSE Star MF (member 6779, AMFI ARN-254564) with daily/weekly/monthly/step-up SIPs, lump-sum, STP, SWP, switch, family accounts, and instant loan-against-MF facility (INsta Plus).
- INDmoney ETFs Indian ETF investing across Nifty 50, Sensex, Gold, Silver, IT, Banking, Debt, International and Liquid categories, plus US-listed ETFs via the US Stocks product, with screening, comparison and NAV-based order placement.
- INDmoney Futures & Options (F&O) Equity derivatives trading on NSE and BSE with ₹20 flat brokerage per executed order, advanced option chain, GTT orders, INDprotect target/SL, and Scalper Mode for fast entries. Account activation within 48 hours post-verification.
- INDmoney Commodities MCX commodity F&O trading for Gold, Silver, Crude Oil, Natural Gas, Aluminium, Zinc, Nickel and Copper, integrated into the INDstocks wallet (MCX membership 57600) with ₹0 activation, ₹20 brokerage per order and 9 AM to 11:30 PM trading window.
- INDmoney IPO Online IPO application via INDpay UPI with NIL charges for application and payment, live/upcoming/closed IPO listings, allotment status tracking, and direct credit of allotted shares to the INDmoney demat account.
- INDmoney NPS (National Pension Scheme) PFRDA-regulated National Pension Scheme investing offered through Finzoomers Services (Point of Presence reg. 362042023), featuring tax savings up to ₹62,400/year, low-cost plans across ten pension fund managers and an NPS calculator.
- INDmoney MCP (Claude integration) Model Context Protocol server that connects the user's INDmoney investment account to Anthropic's Claude, enabling natural-language Q&A over portfolio, holdings, transactions and research data.
- INsta Cash / Insta Plus (Loan against Mutual Funds) Instant credit product providing cash against the user's mutual fund holdings and bank account, operated through Finzoomers Services in tie-up with partner Banks/NBFCs.
Quantifiable outcome
- ₹3 lakh crore in tracked assets and US$1 billion+ in US equities managed on the platform
- +4 more outcomes
Companies that use INDmoney
Customer profileSegments6 records
Ideal customer profiles5 records
INDmoney technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration11 records
AI capability2 records
Feature8 records
INDmoney partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core, major and minor.
- DriveWealth LLCcoreDriveWealth LLC is one of two SEC/FINRA-regulated US clearing brokers that hold customer US-stock assets for INDmoney. Securities are SIPC-insured up to $500,000 (including $250,000 cash). The integration underpins the IFSCA-regulated US investing wallet at GIFT City and is displayed as a trading and brokerage services partner.
- Alpaca Securities LLCcoreAlpaca Securities LLC is the second SEC/FINRA-regulated US clearing broker used by INDmoney to custody customer US stocks and ETFs. Together with DriveWealth, it provides SIPC protection up to $500,000 and FINRA-regulated execution for the IFSCA-regulated GAP framework.
- Federal BankcoreFederal Bank is integrated as a primary in-app partner for INR-to-USD remittances and as a co-branded Federal savings account. Federal Bank also distributes INDmoney via its 100% digital 'Fintech Partnerships' programme for Millennials, alongside Fi, Jupiter Money and DGV.
- HDFC BankmajorHDFC Bank is one of the banks with direct in-app integrations enabling fast INR-to-USD fund transfers to the INDmoney US Stocks Wallet, typically credited within hours.
- ICICI BankmajorICICI Bank is one of the banks integrated for fast fund transfers from a customer's savings account to the INDmoney US Stocks Wallet.
- Kotak Mahindra BankmajorKotak Mahindra Bank is integrated for direct in-app transfers to the INDmoney US Stocks Wallet at best INR-USD exchange rates with zero transfer fees.
- IDFC FIRST BankminorIDFC FIRST Bank is one of the banks integrated for direct in-app transfers to the INDmoney US Stocks Wallet.
- BSE (BSE Star MF)coreBSE Star MF (BSE membership 6779) provides mutual fund execution infrastructure for INDstocks Private Limited as a SEBI-registered stock broker and mutual fund distributor (AMFI ARN-254564).
- SahamatimajorINDmoney is among the 30+ banks, NBFCs, AMCs, stockbrokers and fintechs (alongside SBI, ICICI Bank, HDFC Bank, Axis Bank, Aditya Birla, Bajaj Finserv, DMI Finance, Zerodha, Dhan, Angel One) that invested in Sahamati's ₹50 crore fund-raise. Sahamati is the industry body for India's NBFC-Account Aggregator ecosystem. INDmoney's stake is between 2% and 8%, supporting the RBI-regulated AA framework used for credit underwriting, loan collection and fraud checks.
- INDmoney Global (IFSC) Private LimitedcoreGroup company (IFSCA Broker Dealer No. IFSC/BD/2023-24/0016, IFSCA Clearing Member No. IFSC/CM/2023-24/0001, NSE IFSC Trading Member: 10073) that operates the GIFT City infrastructure underpinning the US Stocks wallet under the 'IND Global' brand on the platform.
- Finzoomers Services Private LimitedcoreGroup company (IRDAI Corporate Agent CA0744, PFRDA PoP 362042023) that powers the marketing and distribution of insurance, NPS, fixed deposits and loans on the INDmoney platform.
Scale indicators10 records
Recent moves6 records
Expansion highlights6 records
INDmoney competitors and assessment
Company assessmentDirect peers
- 5paisa: Discount Indian broker offering equities, F&O, commodities, mutual funds and US stocks under a low-cost digital model. Overlaps with INDmoney on transaction-based revenue, demat offering and mobile-first retail distribution.
- Groww: India's largest retail investment platform offering stocks, mutual funds, IPOs, F&O and US stocks via its own app. Directly competes with INDmoney for the same Indian retail investor segment with overlapping product breadth and a similar zero-commission mutual fund model.
- Upstox: Tech-first Indian retail broker offering equities, F&O, mutual funds and US stocks via mobile app. Competes with INDmoney on the same digital-first, low-cost retail investing proposition and has overlapping banking and AMC partnerships.
- Zerodha: India's largest stockbroker by active clients, offering equities, F&O, commodities and mutual funds via Kite and Coin. Directly competes with INDmoney's INDstocks offering and was specifically named alongside INDmoney by Analytics Insight among WealthTech platforms to watch.
- Angel One: Full-service Indian retail broker offering equities, F&O, commodities, mutual funds, IPOs and now US stocks via its Super App. Directly competes with INDmoney across the same multi-asset retail wealth stack at scale.
- Jupiter Money: India neo-bank and wealth management app offering savings, payments, mutual funds and US stocks. Directly competes with INDmoney in the 'super-app' positioning and was specifically named alongside INDmoney as a Federal Bank Fintech Partnerships distribution partner.
Broad incumbents
- eToro: Global multi-asset social trading platform offering stocks, ETFs, crypto and FX across geographies. Listed by Analytics Insight alongside INDmoney as a WealthTech platform simplifying access through digital tools and multi-asset tracking.
- Robinhood: US retail trading app offering commission-free stocks, ETFs, options and US stock investing for retail users. Named by Analytics Insight alongside INDmoney as a peer in the WealthTech to Watch 2026 cohort.
- INDstocks by INDmoney is the in-house broker; the most comparable standalone US-stock-for-Indians peer is Vested Finance (covered separately). For broader WealthTech incumbents, Betterment and Robinhood are listed below as broader international analogues: US robo-advisor and wealth management platform offering multi-asset portfolios. Named alongside INDmoney by Analytics Insight as a comparable wealthtech platform simplifying investment access via digital tools and AI-driven portfolio management.
Emerging players
- Vested Finance: Specialist Indian platform offering direct US stock investing via foreign brokerage partnerships. Competes with INDmoney's US Stocks product specifically for Indian retail investors seeking US market exposure.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
INDmoney social profiles
Digital presenceINDmoney compliance and trust
Trust signalCompliance16 records
INDmoney financial estimates
Financial estimateRevenue estimate
Valuation estimate
INDmoney leadership team
Management profileNumber of profiles
Profiles9 records
INDmoney subsidiaries and ownership
Company hierarchySubsidiaries3 records
INDmoney funding detail
Funding detailFunding overview
Funding rounds5 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
INDmoney M&A and investment
M&A and investmentM&A
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about INDmoney
What does INDmoney do?
INDmoney is a mobile and web wealth platform that lets Indian residents invest across Indian stocks, US stocks, mutual funds, ETFs, F&O, commodities, IPOs and NPS from a single app. The platform combines execution (zero-commission direct mutual fund plans, 0.1% / ₹20 Indian equity brokerage, 0.25% US trade brokerage) with a consolidated networth and family-account tracker, automated US-stock SIPs, fractional US shares from $1, and AI-driven personalisation across onboarding, portfolio insights and customer support.
Is INDmoney a public or private company?
INDmoney is a private company. It is classified as venture growth investor backed and is currently operating.
When was INDmoney founded?
INDmoney was founded in 2018. It employs 251 to 500 people.
Where is INDmoney based?
INDmoney is headquartered in Gurugram, India, in the Asia region.
How does INDmoney make money?
Eight revenue lines are on record. Equity Delivery & Intraday Brokerage is the primary driver. The others are F&O Brokerage, US Stocks Brokerage & FX Spread, mutual Fund Distribution (Direct Plans), NPS Point of Presence Distribution, insurance Distribution (Corporate Agent Composite), loan Against Mutual Funds / Insta Cash and fixed Deposit & Savings Account Distribution.
Who are INDmoney's main competitors?
Direct peers on record are 5paisa, Groww, Upstox, Zerodha, Angel One and Jupiter Money. Broad incumbents are eToro, Robinhood and INDstocks by INDmoney is the in-house broker; the most comparable standalone US-stock-for-Indians peer is Vested Finance (covered separately). For broader WealthTech incumbents, Betterment and Robinhood are listed below as broader international analogues. Vested Finance is listed as an emerging player.
Does INDmoney have an API?
Yes. INDmoney offers an MCP (Model Context Protocol) server that allows Claude to query the user's investment data. The "INDmoney MCP" feature enables users to ask Claude questions about their investments, connecting the conversational AI assistant to the INDmoney investment portfolio data. Developer documentation is at www.indmoney.com/mcp.