Dezerv, a wealth management platform, said on Tuesday it has raised $32 million in funding round led by Premji Invest and also saw participation from its existing investors Matrix Partners India, Accel, and recently turned unicorn Elevation Capital.
"India's creators of wealth will grow their wealth by nearly $1.2 trillion in five years, growing at 14 per cent CAGR," says Sandeep Jethwani, Co-Founder, Dezerv.
According to Jethwani, capital was important for building trust, ensuring the security of the clients' assets and assets under custody, compliance with the regulatory requirements, and good governance. The substantial support by Premji Invest and other current partners goes to show commitment to delivering top-tier service.
Dezerv will utilize the freshly raised capital for developing new investment strategies, upgrading its technology platform to improve client experiences, and building a team of investment specialists in preparation for future growth.
According to Saravanan Nattanmai of Premji Invest, Dezerv was bent on disrupting the entire landscape of wealth management for emergent wealth creators in India—something that precisely aligns with their investment ethos. By their estimate, Dezerv has a strong product roadmap and a tech-led, open-architecture approach toward developing solutions for wealth management.
Vikram Vaidyanathan of Matrix Partners India further mentioned that the digital-first strategy coupled with a very balanced portfolio at Dezerv rapidly established them as a market leader in this domain.
