WealthTech ZFunds raises $3m in Seed round led by Elevation Capital

By Gloria Mathias

ZFunds, an Indian WealthTech startup, has secured $3 million (INR 25 crore) in a seed funding round led by Elevation Capital. Yashish Dahiya, Co-founder and Group CEO of Policybazaar.com, also participated in the round.

Founded in 2019 by Manish Kothari and Vidhi Tuteja, ZFunds is on a mission to make mutual funds simple, accessible, and effective for every Indian. This investment marks a significant milestone in the company’s journey to empower financial distributors and transform wealth management for millions of households across the country.

Manish Kothari, Co-founder and CEO of ZFunds, said, “Mutual fund distribution and financial advisory require a multifaceted approach involving personalised advice, advanced technology, regulatory adherence, and comprehensive product research. As savings grow, customers increasingly demand these services, and ZFunds is committed to addressing these evolving needs.”

Over 10,000 financial agents already leverage its platform for in-depth research and market insights. ZFunds aims to expand its distribution network further while enhancing its technological infrastructure. This investment will enable the company to empower 10 lakh financial distributors and help 5 crore Indian households achieve financial independence.

Kshitij Jayakrishnan, Vice President at Elevation Capital, shared, “ZFunds brings together Manish’s deep expertise in wealth management and Vidhi’s outstanding leadership in product and technology. By streamlining processes and providing innovative tools and training for distributors, the platform is setting a benchmark in mutual fund distribution. We’re thrilled to support their vision to revolutionise India’s financial product ecosystem.”

Currently serving over 60,000 customers, ZFunds provides an intuitive platform offering real-time asset tracking, personalised product recommendations, and seamless fund redemption. The company’s focus on distributor empowerment and customer-centric solutions positions it as a transformative player in the rapidly growing Indian WealthTech space.

This funding comes at a time of significant momentum in the sector, with platforms like Neo, Dezerv, and Centricity collectively raising over $200 million since late 2023.

ZFunds is now poised to capitalise on the thriving fintech market, redefining financial inclusion and wealth management in India. Together, the company and its partners are building a future where economic growth is accessible and impactful for all.