Centricity expands India presence, opens new office in Bengaluru

By Gloria Mathias

Centricity, a Gurugram-based WealthTech startup, has announced the grand inauguration of its new office in Bengaluru, expanding its footprint into the southern market.

The WealthTech will cater to a diverse set of requirements in wealth management and financial product distribution across the region. Since it started operations in April 2023, Bengaluru will be the sixth office alongside Gurugram, Mumbai, Agra, Lucknow, and Kanpur.

Centricity has started hiring talent across a range of capabilities and is welcoming new hires in Bengaluru.  Since Centricity started operations in April 2023, it has created a vast network of more than 1600 financial product distributors across 12 states and 15 cities, onboarding over 2000 clients.

Highlighting the significance of the Bengaluru office, Anirudh Mahanot, Founding Team Member and Business Head (South & West India) at Centricity, shared, “Bengaluru is a pivotal market for us, and this new office represents our commitment to innovation. With this new office, we are aiming to reach more people and bridge the gap among Investors, Wealth Managers & Asset Managers. Our tie-up with IIT Madras Research Park is working on specialised modules to integrate elements of AI and ML to make this platform efficient.”

Centricity’s “OneDigital” is a tech-enabled multi-asset class, multi-product platform that enables MFDs to access a comprehensive digital financial product listing, execute transactions digitally, and deliver multi-product and multi-advisor client portfolio reports seamlessly. It also equips MFDs with tools such as goal planning, a learning and development library, portfolio analytics, and more.

Centricity’s second platform, “INVICTUS,” caters to single-family offices, UHNI, and corporate treasuries with portfolios exceeding 100 crore. INVICTUS serves as an insight engine, simplifying investment management processes and offering holistic reporting, an investment reckoner, a portfolio scanner, a liquidity profile, and performance tracking.

The firm aims for growth in 2024 by expanding business development teams, adding tech talent, and achieving ESG compliance. Initiatives such as setting up a support call centre, applying for broking licences, conducting many more distributor partner roadshows, and offering mortgages for distributors are also in the pipeline.