Wealth management startup Centricity has successfully raised ₹280 crore (approximately $29 million) in a Series A funding round led by SMBC Asia Rising Fund, comprising ₹230 crore in equity and ₹50 crore in venture debt. The round valued the startup at around ₹1,800 crore (about $190 million). The three-year-old wealthtech platform plans to use the fresh capital to strengthen its technology stack, expand its business-to-business-to-consumer (B2B2C) wealth distribution platform, grow its private wealth and NRI global private client businesses, and expand across domestic and international markets. The latest funding comes after Centricity's earlier capital raises of $20 million in 2024 at a valuation of $125 million, positioning the company at a mature stage with a substantial asset base. Existing investors including Lightspeed India Partners, Burman Family Office, RAAY Investments, Stride Venture, and Innoven Capital also participated in the funding round.
Centricity has demonstrated significant growth since its 2022 founding by former executives from Citibank, Deutsche Bank, Kotak and 360 ONE WAM. As reported by the company, it currently manages over ₹15,000 crore in assets under management (AUM) with 60% of its assets generating recurring revenue. The platform serves over 100,000 investors through more than 20,000 partners and works with more than 250 family offices. The company has built a workforce of over 800 employees across its businesses including One Digital, Invictus Private Wealth and Centricity Direct-to-Client. The platform offers investment products including mutual funds, insurance, bonds, portfolio management services, alternative investment funds, broking, GIFT City opportunities and offshore investment solutions. The company's operating revenue rose to ₹6.2 crore in FY25, while its net loss was ₹4.4 crore, according to Tofler. Centricity is targeting revenue of more than ₹150 crore in FY27.
The fundraise occurs amid a surge in wealth management investment, with internet-first wealth management platforms seeing funding rise sharply to about ₹136 million in 2026 from about ₹83 million in 2025, representing a nearly 64% increase. According to global market research firm IMARC Group, India's wealth management market was valued at $171.16 billion in 2025 and is projected to reach $436.4 billion by 2034, clocking a compound annual growth rate of 10.63% from 2026-2034. Other tech-led wealth firms have also raised significant capital in 2026, including Neo Group raising ₹350 crore, Veriqus Group raising ₹387 crore, AssetPlus securing $19.3 million, Wint Wealth raising $28 million, and Sahi raising $33 million. Centricity's Series A adds another sizeable transaction to this active funding environment in India's wealthtech and investment ecosystem.
Centricity's platform offers access to investment products including mutual funds, insurance, bonds, portfolio management services, alternative investment funds, broking, GIFT City opportunities and offshore investment solutions. As reported by the company, the platform automates various processes including portfolio consolidation, reporting, risk analytics and investment monitoring, allowing advisors and family offices to manage portfolios across multiple products and regions. The platform currently manages more than ₹15,000 crore in assets under management with 60% of its assets generating recurring revenue. The startup is expanding the Global Private Client business, which allows NRIs and other global investors to access Indian and international investment opportunities through its offerings based in GIFT City and Dubai International Financial Centre (DIFC). The company operates multiple business verticals, including its partner-led B2B2C distribution platform One Digital, Invictus Private Wealth, and its Global Private Client business for NRIs.
As part of its expansion strategy, Centricity plans to add more than 50 private bankers to its domestic wealth business and 35-40 NRI bankers over the coming months. According to company statements, it has hired a team of NRI private bankers and plans to expand across international financial centres. The ₹280 crore Series A will support the company's technology stack, distribution reach, private banking team and international wealth offerings as it builds on its existing asset base. Founder and CEO Manu Awasthy emphasized that the SMBC partnership brings strategic banking capabilities and long-term growth acceleration, while Rajeev Kannan, senior managing executive officer and head of India division at SMBC, noted that India's wealth management industry is entering a transformative phase supported by growing adoption of financial assets, greater investor sophistication, and rising demand for technology-enabled advisory. The fundraise comes amid growing investor interest in India's wealthtech sector, with the industry projected to become a more than ₹95 billion opportunity by FY30.
