Wealth management startup Dezerv has raised Rs 265 crore in a funding round led by Premji Invest, with participation from existing investors Elevation Capital, Matrix Partners India (now known as Z47) and Accel.
The platform claims to handle over Rs 7,000 crore in client assets and will use the fresh capital to boost its technology platform and hiring investment specialists for its next growth phase.
"India is witnessing an unprecedented rise in wealth creation...However, this segment remains severely underserved by traditional wealth managers and retail banks and is hampered by misselling and conflicts of interest," the company said in a statement.
Dezerv targets India's affluent and high net worth individuals with customised investment solutions across proprietary equities, fixed income, and alternative assets.
“We have conviction that wealth-tech in India is at an inflection point...Dezerv's digital-first proposition, coupled with a portfolio approach that is the right mix of risk-reward-tax, has catapulted them to being a market leader in a short-span of time," said Vikram Vaidyanathan, managing director, Matrix Partners India, now known as Z47.
Founded in 2021 by Sahil Contractor, Sandeep Jethwani, and Vaibhav Porwal, Mumbai-based Dezerv has raised about $60 million till date.
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