Indian Wealth Management Platform Dezerv Closes $21M Series A Funding

Mumbai-based wealth management firm Dezerv has bagged $21 million in a Series A funding round led by Accel Partners.

Also participating in the round were existing investors Matrix Partners India and Elevation Capital. Reportedly, 60% of the funding in this round was raised from Accel, with the remaining split equally between Matrix and Elevation. The new funding has also raised Dezerv’s valuation to $100 million.

Established in April 2021 by former IIFL executives Sandeep Jethwani, Vaibhav Porwal and Sahil Contractor, Dezerv aims to help underserved Indian professionals gain access to investment expertise through its platform.

Currently, the platform is “invite-only”, and users can apply on the start-up’s website for access.

With the new cash influx, Dezerv plans on building out its products, hiring more talent and boosting its brand awareness.

In September 2021, Dezerv raised $7 million in seed funding from Elevation Capital and Matrix Partners India, with participation from Whiteboard Capital, Blume Founders Fund and other angel investors.

(Source: Fintech Futures)