Wealthtech platform Nivesh acquires Wealthzi for undisclosed amount

Wealthtech platform Nivesh has acquired the wealth management platform Wealthzi, operated by Lime Web Personal Restricted, for an undisclosed quantity.By means of this acquisition, Nivesh plans to leverage Wealthzi’s registered funding advisory (RIA) licence to supply funding advisory companies, aiming to broaden its product choices for prosperous and high-net-worth people (HNIs), Anurag Garg, founding father of Nivesh, informed ET.

Garg added that every one key staff from Wealthzi will be a part of the Nivesh group, and the Wealthzi model will proceed to function beneath Nivesh’s possession.

Based in 2020 by PV Sahad, founding father of the information web site VCCircle, and wealth administration skilled Pradeep Pillai, Wealthzi is a wealth administration platform providing direct mutual fund investments and likewise managing belongings value Rs 500 crore throughout mutual funds, portfolio administration companies (PMS), various funding funds (AIF), bonds, and different monetary merchandise.

Nivesh, based in 2016 by Garg and Sridhar Srinivasan, is a tech-driven wealth administration platform providing AI-powered funding options in mutual funds, insurance coverage merchandise, fastened deposits, and different wealth administration companies.

Backed by traders like IAN Fund and LetsVenture, Nivesh at the moment manages Rs 2,000 crore in belongings for round 60,000 clients. With the acquisition of Wealthzi, the mixed entity will handle Rs 2,500 crore in belongings.

Nivesh goals to succeed in belongings beneath administration (AUM) of Rs 10,000 crore within the subsequent three years, Garg mentioned.“Combining Wealthzi’s direct-to-consumer wealth service with Nivesh’s distribution platform will assist create a formidable wealth alliance to cater to India’s fast-growing investor base,” mentioned Sahad.

The acquisition comes amid heightened funding in India’s wealth administration sector, because the growth of inventory markets and wealth era opens new alternatives for wealthtech startups.

ET reported on August 19 that investors have poured around $228 million into Indian wealthtech startups over the previous two years, citing knowledge from the market intelligence platform Tracxn.

The sector can also be witnessing consolidation, with extra mergers and acquisitions (M&A). In June, 360 One Wealth and Asset Administration, previously IIFL Wealth, signed a definitive settlement to amass wealthtech platform ET Cash for Rs 365.8 crore.