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Dezerv raises $32m in a funding round led by Premji Invest

By Gloria Mathias

July 09, 2024

  • Dezerv
  • Dezerv fundung
  • Fintech funding news
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Dezerv, Wealth Managemnet platform, WealthTech News, Wealth Fintech, Wealth Creators, Premji Invest, HNIs, Wealth Creation, Personal Finance, India Fintech news, India News, Dezerv, India’s wealth management platform for wealth creators, has announced that it has secured $32 million (INR 265 Crores) in a funding round led by Premji Invest.

This round also saw participation from existing investors Elevation Capital, Matrix Partners India (aka Z47) and Accel.

Dezerv plans to invest fresh capital in crafting new investment strategies, boosting its technology platform to deliver a superior client experience, and hiring investment specialists for its next growth phase.

“India’s wealth creators are set to add nearly $1.2 trillion over the next five years, with their wealth growing at a 14% CAGR. At Dezerv, our mission is to support India’s affluent and HNIs in their wealth-creation journey. Over 65% of HNI portfolios often suffer from underperformance due to mis-selling and over-diversification,” said Sandeep Jethwani, Co-Founder of Dezerv.

“We address these issues with trusted, customised investment solutions, centrally managed portfolios, and a technology-first approach for superior client experiences. Building trust and delivering top-tier service requires significant capital for client asset security, regulatory compliance, and good governance. We are grateful for the substantial support from Premji Invest and our existing partners. Premji Invest’s nuanced understanding of investment management aligns perfectly with our goals, and our partners’ continued reinvestment endorses our commitment to excellence,” added Jethwani.  

“The financialisation of savings is gaining significant momentum in India. With the deepening of the capital markets, navigating the complex risk-return dynamics across multiple asset classes becomes increasingly challenging, especially for the mass affluent segment. Dezerv has addressed this with remarkable agility, offering centrally managed portfolios that leverage advanced analytics and technology, providing a personalised client experience sustainable even at scale. They have built a strong product roadmap across various investment solutions, positioning themselves as the most preferred, tech-led, open-architecture wealth management platform. Their vision to revolutionise wealth management for India’s emerging wealth creators aligns perfectly with our investment ethos, and we are excited to support their journey,” said Saravanan Nattanmai, Partner, Premji Invest.

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