Wealth-creation platform dezerv. has raised $21 million in Series A funding led by Accel, with participation from existing investors Matrix Partners India and Elevation Capital, the company said on August 8.
With the funds raised, the fintech startup plans to focus on strengthening the user experience, introducing new investment opportunities, and hiring in different roles, the statement said.
Founded in 2021 by Sandeep Jethwani, Vaibhav Porwal, and Sahil Contractor, dezerv. is a wealth management platform that offers expert-led investing available to professionals with an investment amount starting from Rs 50,000.
“This fundraise is one more step towards our mission of delivering real investment expertise to India’s working professionals. The need for better investment outcomes has never been felt as acutely as in the current volatile environment, ” said Jethwani.
Earlier an invite-only platform, dezerv. said it was now open to all working professionals in India. The company said it offers non-traditional investment offerings, which include high-yield debt and pre-initial public offering deals and had got Alternative Investment Fund and Portfolio Management Services licence to broaden the options available to its users.
“dezerv.'s expert-led platform spans across asset classes and provides custom solutions, to create a portfolio for long-term investors. The team is off to a fast start, growing AUM (assets under management) seven times over the last six months. We are excited to double down on our investment here and welcome Accel to the partnership," said Vikram Vaidyanathan, Managing Director, Matrix India.dezerv. also said it saw more than one lakh working professionals sign-ups and the number was growing. The company claimed significant growth in investments that had gone up to Rs 800 crore.