Indian wealthtech start-up Centricity secures $20m in seed funding round
Indian wealthtech start-up Centricity has raised $20 million in a seed funding round led by Lightspeed India Partners at a valuation of $125 million.
Centricity secures $20m in seed funding
Burman Family Office and Shantanu Agarwal supported the round as returning investors, and were joined by new backers including Paramark VC, MS Dhoni Family Office, NB Ventures, MMG Group and Action Tesa, among others.
Founded in 2022 and based in Gurugram, Centricity previously raised $4 million at a company valuation of $20 million in September that year.
The company offers Software-as-a-Service (SaaS) investment management technology and plans to use its new funding to grow its staff headcount and further develop its flagship Invictus and One Digital platforms with a focus on GenAI.
It says Invictus is an investment insights engine designed to “democratise investment intelligence”, while One Digital is an investment product marketplace for “search, discovery and comparison”.
Announcing the news on LinkedIn, the company says that India “is witnessing an unprecedented wealth creation and wealth management boom”.
“Financialisation of assets as a percentage of total wealth has increased by 15% in the last 10 years,” the start-up adds.
“A democratised accessibility to all financial products for investors and a commitment to addressing the largely underserved Indian wealth market through its ‘tech first’ mindset is at the core of Centricity’s’ long-term vision.”
