Wealth Tree Partners, which runs the online CFO servicing business through MyCFO.in, is looking to raise capital from private equity funds next year, said a senior company official.
“We want to raise growth capital from a fund that has had experience of scaling services business and can help us expand. From next year, we want to start implementing our plans of offering specific products and industry vertical based services, for which we would require capital,” said Deepak Narayanan, director, MyCFO. He declined to comment on the amount of capital it plans to raise.
MyCFO is a two-and-a-half-year-old brand which started out by engaging with family owned businesses. But now its customer profile includes mid to large size Indian corporates, largely private equity-backed companies and Indian subsidiaries of multinational firms with sales turnover of $15 million to $ 300 million. Around three-fifths of the client base is PE/VC-backed companies.