Dezerv Bags INR 350 Cr To Expand Investment Solutions Suite

SUMMARY

The funding round led by existing investor Premji Invest and Accel’s Global Growth Fund, with participation from Elevation Capital and Z47

The capital would be used to deepen its technology platform, expand its suite of investment solutions across asset classes, and onboard relationship managers

Dezerv claims to have enabled over 5 Lakh Indian investors to track and analyse INR 2 Lakh Cr in assets

Wealthtech startup Dezerv has raised INR 350 Cr (about $39.4 Mn) in its Series C funding round led by existing investor Premji Invest and Accel’s Global Growth Fund, with participation from Elevation Capital and Z47.

The startup said it would use the capital raised via the all-primary round to deepen its technology platform, expand its suite of investment solutions across asset classes, and onboard relationship managers. This would accelerate Dezerv’s transition into a full-stack wealth manager, it added.

Founded in 2021 by Sahil Contractor, Sandeep Jethwani and Vaibhav Porwal, Dezerv began as an invite-only platform for wealth management. Later, it opened access to everyone. It provides customised investment solutions, particularly targeting senior working professionals and high-net-worth individuals, across multi-assets and vehicles.

The startup said it plans to add bonds, REITs, InvITs, loans and credit cards to its platform by the end of 2025, making it a comprehensive platform for individuals to view and manage both their personal and family finances.

Dezerv claims to have enabled over 5 Lakh Indian investors to track and analyse INR 2 Lakh Cr in assets. It claims to have clients from over 200 cities in the country and manage over INR 14,000 Cr across PMS, AIF and distribution assets

Including the latest funding, Dezerv has raised a total of INR 850 Cr to date from the likes of Whiteboard Capital, GTM Ventures, Blume Ventures, among others. Prior to this round, the startup raised $32 Mn (about INR 265 Cr) in a round led by Premji Invest in July last year.

On the financial front, Dezerv’s operating revenue surged 157% to INR 26.3 Cr in FY24 from INR 10.2 Cr in the previous fiscal year. Its consolidated net loss rose 95% to INR 74.5 Cr from INR 38.2 Cr in FY23.

The funding comes at a time when wealthtech platforms are seeing a lot of interest from investors. The likes of PowerUp Money, Scripbox, ZFunds and Univest have raised capital over the past 12 months.

Recently, IPO-bound Groww completed the acquisition of wealthtech platform Fisdom after receiving the Securities Exchange Board of India’s (SEBI) approval. The acquisition will serve as a launchpad for Groww’s high-net-worth individuals (HNI) focussed offering ‘W’.