Dezerv Secures ₹350 Crore in Series C Funding, Strengthening Its Position as India’s Leading Wealth Management Innovator

In a landmark development for India’s growing wealthtech landscape, Mumbai-based Dezerv has raised ₹350 crore in its latest Series C funding round, marking a major milestone in its journey to redefine modern wealth management in India.

A) A Strong Vote of Confidence from Leading Investors

The round was co-led by existing investors — Premji Invest (the family office of Wipro founder Azim Premji) and Accel’s Global Growth Fund — with continued participation from Elevation Capital and Z47.

This infusion of capital underscores investors’ conviction in Dezerv’s long-term potential and will be strategically deployed to:

• Enhance Client Experience: Build a seamless, personalized, and intuitive investment journey.
• Strengthen Technology Capabilities: Expand its AI-powered infrastructure for smarter wealth solutions.
• Diversify Investment Offerings: Broaden its product suite across asset classes to cater to India’s expanding investor base.

B) Rapid Growth Since Inception

Founded in 2021 by Sahil Contractor, Sandeep Jethwani, and Vaibhav Porwal, Dezerv has emerged as one of India’s most promising wealth management startups. With this round, its total capital raised exceeds ₹850 crore, including a $32 million (₹270 crore) Series B round closed in July 2024.

Key performance highlights include:

• Assets Under Management (AUM): Over ₹14,000 crore, spanning Portfolio Management Services (PMS), Alternative Investment Funds (AIF), and distribution assets.
• Nationwide Reach: Clients in more than 200 cities across India.
• App Engagement: Over 5 lakh users actively using the Dezerv app, which tracks and analyzes more than ₹2 lakh crore in consolidated assets across mutual funds, stocks, bank accounts, NPS, and FDs. The platform plans to soon add bonds, ReITs, InvITs, loans, and credit cards.

C) Founders’ Vision: Building a Pioneering Financial Institution

Expressing gratitude and ambition, Sandeep Jethwani, Co-founder of Dezerv, stated:

“This fresh capital will help us deepen our capabilities and strengthen our foundation to build a pioneering financial institution. We are grateful to our investors for their continued support as we pursue our vision of serving India’s wealth creators for decades to come.”

D) The Bigger Picture: India’s Wealthtech Revolution

Dezerv’s Series C success is emblematic of the broader boom in India’s wealthtech sector — fueled by:

• Rising financial literacy and affluence
• A surge in digital-first investing behavior
• Growing demand for diversified wealth management solutions

This trend is mirrored by other recent fundraises in the ecosystem, including Smallcase’s $50 million round and Stable Money’s $20 million Series B.

E) Outlook: Scaling for the Future

Despite recording a ₹74.53 crore loss on ₹26.25 crore in operating revenue in FY24, Dezerv remains focused on long-term growth and market leadership rather than short-term profitability.

Armed with fresh capital, robust technology, and unwavering investor support, Dezerv is well-positioned to lead India’s next chapter of digital wealth management — empowering millions of Indians to build and manage their wealth smarter.

In an industry poised for transformation, Dezerv isn’t just keeping pace — it’s setting the standard for the future of wealth management in India.

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