Wealth management startup Centricity has raised ₹280 crore in a Series A funding round led by SMBC Asia Rising Fund, with participation from existing investors including Lightspeed India Partners, Burman Family Office, RAAY Investments (Amit Patni Family Office), Kuldeep Rathi (Ask Automotives Ltd.) Family Office, Stride Ventures, Innoven Capital, and other returning investors.
The company said it will 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 fundraise comes as wealth management attracts greater investor interest amid rising household wealth and increasing participation in market-linked financial assets. 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, according to global market research and consulting firm IMARC Group. Internet-first wealth management platforms saw funding rise sharply to about $136 million in 2026 from about $83 million in 2025, a nearly 64% increase, even as the number of funding rounds fell to around 9 from 18 in 2025 as capital became increasingly concentrated in fewer but larger rounds.
Founded in 2022 by former Citibank, Deutsche Bank, Kotak and 360 ONE WAM executives, Centricity was designed for advisors and distributors serving affluent individuals, ultra-high-net-worth individuals and single-family offices. It previously raised $4 million in pre-seed funding in 2022 and $18 million in a seed round in 2024.
Centricity said its 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. It said 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.
Three years after it was founded, Centricity said it has more than ₹15,000 crore in assets under management, with 60% of its assets generating recurring revenue. Another tech-led wealth firm, Dezerv, which raised ₹350 crore in October 2025, currently has about ₹16,000 crore in AUM, according to public reports.
Centricity said it has more than 20,000 partners, serves over 100,000 investors, and works with more than 250 family offices. It said its business grew nearly 200% over the past year and claimed to be on track to surpass ₹150 crore in revenue in FY27.
The company has expanded its international wealth business through Centricity Global Private Client, which gives non-resident Indians and global investors access to Indian and international investment opportunities through GIFT City and Dubai International Financial Centre (DIFC) offerings.
As part of the expansion, Centricity said it has hired a team of NRI private bankers. It plans to add more than 50 private bankers to its domestic wealth business and 35-40 NRI bankers over the coming months. It also plans to expand across international financial centres, the company said.
“This investment is a defining endorsement of Centricity’s vision, business model, and execution. After the early backing of Lightspeed, the partnership with SMBC’s venture capital arm is another strong vote of confidence in what we have built in just three years,” said Manu Awasthy, founder and CEO, Centricity.
“SMBC brings far more than capital—it brings the strength of one of the world’s leading banking groups, strategic banking and credit capabilities, and a long-term partnership that will accelerate our next phase of growth. We are excited to build the future of wealth management together,” he added.
Rajeev Kannan, senior managing executive officer and head of India division at SMBC, said, “India’s wealth management industry is entering a transformative phase, supported by three powerful shifts: the growing adoption of financial assets, greater investor sophistication, and rising demand for technology-enabled advisory.”
Mansi Verma is a senior correspondent covering private capital in India for Mint. Think of strategy shifts, private equity and venture capital deals, the companies trying to go public, and occasionally, the ones falling apart.<br><br>She moved into this beat in 2022, and has been following it closely since. Prior to Mint, Mansi worked at Moneycontrol, where she covered jobs and edtech, reporting extensively on the 2022–2024 startup and IT layoffs cycle. Her work during this period focused on what happens to fast-growing companies when capital dries up, combining financial reporting with human-interest stories.<br><br>Mansi reported closely on Byju’s during a critical phase in its unravelling, and has since built a strong understanding of edtech businesses, particularly unicorns, and the deeper structural challenges in education that many of them have struggled to solve. At Mint, she follows the flow of capital across VC and PE deals, exits and IPO pipelines, while also tracking large investment firms, and the financial services sector.<br><br>Outside of the newsroom, Mansi spends time exploring how technology is changing the way people think and work, while actively attempting to build a critical thinking human brain in the age of short-form everything.<br><br>She holds a Master’s degree in journalism and has moderated industry discussions on financial services and investments.
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