Wealth-tech startup AssetPlus has raised Rs 175 crore in a fresh funding round led by Nexus Venture Partners, giving a strong boost to its plans of expanding its assisted wealth management platform across India. The round also saw participation from existing backers including Eight Roads Ventures and Zerodha’s investment arm Rainmatter, indicating continued confidence in the company’s long-term vision and execution.
Founded in 2016 by Vishranth Suresh and Awanish Raj, AssetPlus operates in the rapidly growing wealth-tech space with a focus on combining technology with personalised financial advice. Instead of pushing a purely self-service investment model, the startup enables mutual fund distributors (MFDs) with digital tools that simplify onboarding, compliance, portfolio tracking and client engagement. This “assisted investing” approach aims to improve the quality of financial advice available to retail investors, especially in smaller cities and towns.
How AssetPlus Plans to Use the Fresh Capital
AssetPlus plans to use the newly raised funds to strengthen its product offerings and scale its technology infrastructure. While mutual funds remain the company’s core product, it has steadily expanded into other financial instruments such as term insurance, health insurance and fixed deposits. The startup is also preparing to roll out advanced wealth products including portfolio management services (PMS) and global investment options, potentially through GIFT City structures.
A significant portion of the capital will go towards enhancing platform capabilities for distributors, improving analytics, and building tools that allow advisors to offer more holistic, goal-based financial planning to their clients. The company believes this will help distributors deepen relationships with investors rather than focusing only on transactions.
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Growing Distributor Network and Investor Base
AssetPlus has built a strong nationwide presence over the years. The platform currently works with more than 18,000 mutual fund distributors across India. Through this network, the company manages over Rs 7,250 crore in assets under management (AUM). Its monthly SIP book has crossed Rs 100 crore, and the platform serves more than 1.5 lakh retail investors.
These numbers highlight how AssetPlus has managed to scale without directly competing with advisors, instead positioning itself as an enabling technology partner. This model has helped it gain traction in an increasingly crowded wealth-tech ecosystem.
Financial Performance and Long-Term Vision
Despite strong growth in assets and users, AssetPlus is still in an investment phase. The company reported revenue of around Rs 33.9 crore in the last financial year, along with a net loss of approximately Rs 21 crore. The losses are largely attributed to continued spending on technology development, talent acquisition and market expansion.
The management maintains that profitability will follow as the platform matures and the average assets managed per distributor continue to rise. The focus remains on building sustainable, long-term value rather than short-term gains.
What This Means for India’s Wealth-Tech Sector
The funding round comes at a time when investor interest in Indian wealth-tech startups is steadily increasing. While the sector has seen several early-stage deals, larger growth rounds are still relatively limited. AssetPlus’s Rs 175 crore raise stands out as one of the more significant investments in this space, reflecting growing belief in hybrid models that blend human advice with digital efficiency.
With this capital, AssetPlus is well-positioned to strengthen its role in shaping how financial advice is delivered in India. As more first-time investors enter the market and seek trusted guidance, platforms that empower advisors with smart technology are likely to play a critical role in the future of wealth management.