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Home Gadgets Wealth management startup Dezerv raises $21 million in funding led by Accel

Wealth management startup Dezerv raises $21 million in funding led by Accel

Wealth management startup Dezerv has raised $21 million as a part of a recent funding spherical led by .

Current buyers Whiteboard Capital, Elevation Capital (previously Saif Companions), and Matrix Companions India additionally participated within the spherical, together with GTM Ventures, regulatory filings filed with the Ministry of Company Affairs (MCA) confirmed.

The corporate intends to make use of the proceeds from the present spherical to deal with strengthening its consumer expertise, introduce newer funding alternatives and develop its expertise pool, it mentioned in a press release on Monday.

Based in 2020 by former IIFL Wealth managers Sandeep Jethwani, Sahil Contractor and Vaibhav , Dezerv Investments gives Indian working professionals a tech-driven monetary platform, the place they will search knowledgeable recommendation on managing their cash.

The invite-only platform permits customers to begin investing from Rs 50,000 onwards.

“This fundraise is yet one more step in the direction of our mission of delivering actual funding experience to India’s working professionals,” Jethwani mentioned.

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“The necessity for higher funding outcomes has by no means been felt as acutely as within the present unstable setting. The overwhelming response in our early days coupled with this fundraise from three of India’s prime enterprise capital funds additional strengthens our mission,” he added.

The corporate has already seen near Rs 800 crore being invested by way of its platform.

“We’re excited to associate with Dezerv of their journey to offer funding experience to working professionals in India,” mentioned Abhinav Chaturvedi, associate, Accel. “As the data asymmetry will increase relating to investing and monetary merchandise, there’s a larger want for area specialists managing cash and delivering sustainable returns.”

The startup additionally counts different outstanding founders reminiscent of OfBusiness cofounders Ruchi Kalra and Asish Mohapatra; Meesho cofounder Vidit Aatrey; and Acko founder Varun Dua as buyers.

The most recent funding comes after the corporate mentioned
it had raised $7 million as a part of its maiden institutional spherical – co-led by Elevation and Matrix – in September final yr.

“Indian wealth-tech is at a tipping level, with an inflow of recent prosperous buyers over the previous few years, who now want knowledgeable recommendation to navigate unsure markets. Dezerv’s expert-led platform spans throughout asset courses and offers customized options, to create a portfolio for long run buyers,” mentioned Vikram Vaidyanathan, managing director, Matrix India.

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