Mumbai-based wealthtech startup Dezerv has successfully raised $40 million (approximately ₹350 crore) in a Series C funding round. The round was co-led by Premji Invest and Accel’s Global Growth Fund, with participation from Elevation Capital and Z47 (formerly Matrix Partners India). This fresh capital injection comes as Dezerv continues to strengthen its presence in India’s fast-growing wealth management sector and aims to provide more personalized investment solutions to its clients.
Making Wealth Simple and Accessible
Founded in April 2021, Dezerv has focused on simplifying investment management for India’s affluent investors. The platform provides a range of services, including Portfolio Management Services (PMS), Alternative Investment Funds (AIF), and the distribution of curated financial products. Its technology-driven platform allows users to track, manage, and grow their investments in a more informed way. With a presence in over 200 cities across India, Dezerv is reaching a diverse client base and helping more investors make smart financial decisions without the usual complexity associated with wealth management.
Strategic Growth Plans
The $40 million funding will be deployed to enhance client experience and strengthen the company’s technology infrastructure. Dezerv plans to expand its investment offerings across multiple asset classes, catering to the varied financial goals of its customers. In addition, the company aims to hire 200 more relationship managers over the next year. These professionals will provide personal guidance and support to clients, ensuring that each investor receives tailored advice that aligns with their financial aspirations. By combining technology and human expertise, Dezerv seeks to create a seamless and engaging investment journey for its users.
Financial Performance and Industry Outlook
In the fiscal year 2024, Dezerv’s revenue from operations saw a significant rise, reaching ₹26.25 crore from ₹10.20 crore in the previous year. At the same time, the company reported a higher net loss of ₹74.53 crore, compared to ₹38.20 crore in FY23, reflecting increased investments in technology, talent acquisition, and market expansion. Despite the rising losses, the strong revenue growth and increasing adoption of the platform indicate that Dezerv is on a positive growth trajectory. Industry experts suggest that startups like Dezerv, which focus on technology-driven wealth solutions, are well-positioned to capture the growing demand among India’s affluent investors.
Looking Ahead
With the latest funding round, Dezerv is poised to reinforce its leadership in the wealth management space. The company aims to leverage technology and personalized services to address the evolving needs of its clients and provide solutions that are both efficient and user-friendly. By continuing to innovate and expand its offerings, Dezerv plans to make wealth management more accessible, transparent, and rewarding for investors across India. As the wealthtech sector continues to grow, Dezerv’s focus on combining cutting-edge technology with expert guidance positions it as a promising player in India’s financial services landscape.