Gurugram-based wealthtech start-up Centricity has raised $20 million in a seed funding round led by Lightspeed India Partners, with participation from returning investors Burman Family Office and Shantanu Agarwal, among others.
The company is now valued at $125 million, according to cofounder and CEO Manu Awasthy.
The round also attracted investment from Korean venture capital firm Paramark VC, as well as a group of prominent family offices and angel investors, including MS Dhoni Family Office, NB Ventures Family Office, Aakash Chaudhry (former CEO of Aakash Institute), Oyo’s Ritesh Agarwal, Nvidia’s Vishal Dhupar, MMG Group Family Office, and Action Tesa Family Office.
Centricity plans to use the funds to scale its platforms, Invictus and One Digital, by investing in technology, talent, expanding private banking services, and pursuing strategic acquisitions.
“We wanted to go deep into India that is why we are catering to the segment of ultra-high-net-worth individuals (UHNIs) that have around 70% of India’s wealth. We are also catering to the huge Indian market through a business-to-business-to-consumer (B2B2C) framework purely because no company in India has successfully built a distribution network. Our idea is to build India’s largest financial distribution company serving almost everyone possible,” Awasthy told ET.
source: The Economic Times
#healthcarestartup #startupnews
The company is now valued at $125 million, according to cofounder and CEO Manu Awasthy.
The round also attracted investment from Korean venture capital firm Paramark VC, as well as a group of prominent family offices and angel investors, including MS Dhoni Family Office, NB Ventures Family Office, Aakash Chaudhry (former CEO of Aakash Institute), Oyo’s Ritesh Agarwal, Nvidia’s Vishal Dhupar, MMG Group Family Office, and Action Tesa Family Office.
Centricity plans to use the funds to scale its platforms, Invictus and One Digital, by investing in technology, talent, expanding private banking services, and pursuing strategic acquisitions.
“We wanted to go deep into India that is why we are catering to the segment of ultra-high-net-worth individuals (UHNIs) that have around 70% of India’s wealth. We are also catering to the huge Indian market through a business-to-business-to-consumer (B2B2C) framework purely because no company in India has successfully built a distribution network. Our idea is to build India’s largest financial distribution company serving almost everyone possible,” Awasthy told ET.
source: The Economic Times
#healthcarestartup #startupnews
Gurugram-based wealthtech start-up Centricity has raised $20 million in a seed funding round led by Lightspeed India Partners, with participation from returning investors Burman Family Office and Shantanu Agarwal, among others.
The company is now valued at $125 million, according to cofounder and CEO Manu Awasthy.
The round also attracted investment from Korean venture capital firm Paramark VC, as well as a group of prominent family offices and angel investors, including MS Dhoni Family Office, NB Ventures Family Office, Aakash Chaudhry (former CEO of Aakash Institute), Oyo’s Ritesh Agarwal, Nvidia’s Vishal Dhupar, MMG Group Family Office, and Action Tesa Family Office.
Centricity plans to use the funds to scale its platforms, Invictus and One Digital, by investing in technology, talent, expanding private banking services, and pursuing strategic acquisitions.
“We wanted to go deep into India that is why we are catering to the segment of ultra-high-net-worth individuals (UHNIs) that have around 70% of India’s wealth. We are also catering to the huge Indian market through a business-to-business-to-consumer (B2B2C) framework purely because no company in India has successfully built a distribution network. Our idea is to build India’s largest financial distribution company serving almost everyone possible,” Awasthy told ET.
source: The Economic Times
#healthcarestartup #startupnews
