Centricity, a Gurugram-headquartered wealthtech firm, has secured $20 million in its seed funding round led by Lightspeed India Partners, taking the company’s valuation to $125 million.
Also participating in the round were existing backers Burman Family Office and Shantanu Agarwal. Other investors include South Korea’s Paramark VC, MS Dhoni Family Office, NB Ventures Family Office and angel investors.
Centricity said it plans to utilise the fresh capital to expand its operations, with ambitions to double its tech development team from 75 to over 150 specialists, focusing on innovations such as generative AI-led modules, insurtech, and broking-tech platforms.
“End investors in wealth management are tech-starved and crave for simple, sincere solutions,” said Manu Awasathy, founder and CEO of Centricity. “Centricity is solving this problem through its tech-first mindset and practical tech applications. Our scale has been bigger and faster than any wealth management company in India within 15 months of starting the operations.”
Founded in January 2022, Centricity helps finance and investment professionals who aspire to establish their independent practices. The platform aims to deliver a comprehensive Software-as-a-Service (SaaS)-based investment management platform, including digital transactional capabilities, for a diversified product suite.
