Series A round led by SMBC Asia Rising Fund will support technology expansion, private wealth operations and international growth
Gurugram-based wealth management startup Centricity has raised ₹280 crore in a Series A funding round led by SMBC Asia Rising Fund, as it looks to strengthen its technology platform and expand its private wealth and non-resident Indian (NRI) business.
Existing investors including Lightspeed India Partners, Burman Family Office, RAAY Investments, Kuldeep Rathi Family Office, Stride Ventures and InnoVen Capital also participated in the round. The company said the fresh capital will be used to expand its business-to-business-to-consumer (B2B2C) distribution platform and strengthen operations in domestic and international markets.
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Founded in 2022 by executives with backgrounds at Citibank, Deutsche Bank, Kotak and 360 ONE WAM, Centricity provides investment and wealth-management services through a technology-led platform
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Its offerings include mutual funds, insurance, bonds, portfolio management services, alternative investment funds, broking and investment opportunities through GIFT City and offshore markets
The company said it now manages more than ₹15,000 crore in assets under management and works with over 20,000 partners and more than 100,000 investors. It also works with more than 250 family offices and reported nearly 200 per cent business growth over the past year. Centricity expects revenue to exceed ₹150 crore in FY27.
A key focus of the expansion will be its NRI wealth business. Through Centricity Global Private Client, the company is targeting NRIs and international investors seeking access to Indian and overseas investment opportunities through GIFT City and Dubai International Financial Centre (DIFC).
Centricity has already formed a dedicated NRI private banking team and plans to add 35-40 NRI bankers, alongside more than 50 private bankers for its domestic wealth business.
The latest funding follows earlier rounds of $4 million in pre-seed funding in 2022 and $18 million in seed funding in 2024.
