AssetPlus, a wealth-management platform, has secured Rs 175 crore ($19.27 million) in Series B1 round of funding, led by venture capital firm Nexus Venture Partners.
The round also saw participation from another Eight Roads Ventures and Zerodha’s investment arm Rainmatter, the company said in a statement.
The Chennai-based company is valued at Rs 850 crore (around $94 million) post the round.
AssetPlus will use the capital to expand its product offerings, and strengthen initiatives that support holistic wealth management.
“Our goal has never been to build just another distribution platform,” said Vishranth Suresh, Co-founder and chief executive of AssetPlus. “We are building wealth management infrastructure that combines human advice with technology-led scale.”
The startup, founded in 2016, provides a fully digital-assisted wealth management platform that allows mutual fund distributors (MFDs) to deliver holistic wealth management at scale. The platform enables distributors to manage clients end-to-end while removing operational and compliance friction in the background, allowing them to focus on building trust, understanding client needs, and guiding better financial decisions over time.
The company has previously raised capital from InCred Capital and its founder Bhupinder Singh.
Currently, the platform works with more than 18,000 MFDs across India, and manages over Rs 7,250 crore in assets under management (AUM) and serves more than 1.5 lakh investing customers.
“Financialization of savings in India is at an inflection point, entering its next leg of penetration, and Mutual Fund Distributors are critical to driving this shift,” said Shweta Bhatia, Senior Partner at Eight Roads Ventures.
“AssetPlus has built a compelling integrated platform that has earned deep trust among MFDs, enabling them to onboard clients faster and support investors with goal-centric, long-term investing at scale,” she added.
