Times Internet acquires personal finance platform moneysights
New Delhi, India, October 27, 2014: Times Internet, India’s leading digital product company and part of The Times of India Group, announced today that it has acquired moneysights, an innovative personal finance platform.
moneysights was founded in 2009 by Mukesh Kalra & Santosh Navlani, both early employees at InMobi, as a digital platform that enabled consumers to discover, personalize, buy, and manage their investments. The company had also raised funding from ex-HP & IBM senior executive Prasad Duvvuri, Blume Ventures & inmobi’s Naveen Tewari.
While the platform was a powerful idea, it was a bit ahead of its time, and the venture was put on hold due to funding constraints in 2012. moneysights will now be further developed within Times Internet, and will operate under the leadership of its co-founder, Mukesh Kalra.
Satyan Gajwani, CEO of Times Internet, said, “Mukesh and team hit upon a key consumer need: a smarter, more transparent way to manage your money. This was moneysights’ goal when it started, and we are happy to work together to actualize that vision. Mukesh has a great understanding of product and technology, and is passionate about the opportunity. We’re excited to jointly take forward this mission.”
Mukesh Kalra, Co-Founder of moneysights said, “When we were building moneysights a few years ago, we realized that while we had a strong product and a great team, key levers for success in the personal finance space were missing – Brand which exudes Trust, Distribution channel with access to large captive audience and a Partner with a longer term vision. With Times, all the three levers get completed and hence we have this unique chance to build a hugely successful business in this space”.
