Wealthtech Startup Dezerv Raises $32 Mn in Series B

Dezerv, the Mumbai-based wealth tech platform, has closed its Series B funding round with Rs 265 crore (around $32 million). Premji Invest was the lead investor in the round which saw other backers include Elevation Capital, Matrix Partners, and Accel India. This funding round highlights Dezerv’s aptitude for funding, particularly within the wealth management industry. 

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Founders of Dezerv

Dezerv was co-founded by three people who have experience working in the wealth management niche. Sandeep Jethwani has worked extensively in senior management roles in investment companies like IIFL Wealth Ltd, Anand Rathi Wealth Management Ltd and Kotak Wealth Management Ltd. Vaibhav Porwal also has exposure from the wealth management segment where he has worked with more than INR 50,000 crores. Sahil Contractor joins the team of founders to enhance Dezerv’s mission to transform the landscape of wealth management of India’s wealth creators.

Portfolio Management Service

Dezerv provides portfolio management services for high-net-worth clients like executives, IT specialists, businesspeople, etc. Its approach relies on the neutral assessment of information to make correct investment steps for clients.

In-House Experts and Returns

The platform’s professionals are involved in various investment management strategies as well as seeking moderate gains in the long run. Steering clear of volatile investments, they stress on balance and steady gains. In fact, since its launch in April 2021, the Dezerv platform has reportedly earned almost 30% profit for users. In the world of wealth tech, they stand out for their focus on performance. 

Series B Details

Dezerv resides in the overlap between big data decision making, and highly managed execution. Series B round closed at Rs 265 crore. The round was led by Premji Invest who invested Rs 169 crore in the organization. Elevation Capital and Matrix Partners invested Rs 35 crore each in the company. Accel India, the same company that actively took part in the funding of Dezerv during its Series A round, invested Rs 26 crore in the round of Series B. 

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Growth Strategy of Dezerv

Dezerv manages the growth strategy based on data analysis, constant monitoring, and a looking-forward attitude. Dezerv provides a focused mutual fund investment portfolio that is actively managed to achieve market-beating returns of 3-5%. They manage investment experts who continuously assess and adjust values accordingly to provide the best outcomes. Quantitative analysis aids in terms of revealing trends and possibilities to expand into other segments. As a result, Dezerv uses the data to make strategic investments.

Future returns are not necessarily tied to past returns, which is why Dezerv focuses on the future and trends. They reflect the changing market conditions and new trends in investments. There is no restriction on the lock-in period for the investors. They are free to withdraw their capital at any given time. As for the development of Dezerv, knowledge, numbers, and flexibility contribute to the formation of wealth creation for clients. 

Future Endeavors

After allotment, Dezerv’s estimated market capitalization is approximately Rs. 1,715 crore ($207 million). The Series B round seems to be still open, which indicates the firm may continue to seek more funds. Premji Invest controls 9.84% and aims to own the cap table. Other prominent investors are Elevation Capital, Matrix Partners, and Accel, holding 15.28%, 15.28%, and 11.46% of the company.

Conclusion

Dezerv’s venture funding puts them in better standing for further innovation and growth. While evolving the industry of wealth management, their focus on the power of data and great performance has not faded.