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In a significant development for India’s rapidly evolving wealthtech sector, Chennai based AssetPlus has announced the successful closure of a Rs 175 crore funding round, approximately $19.3 million. The investment, led by prominent venture capital firm Nexus Venture Partners, marks a pivotal moment for the company as it seeks to transform the wealth management landscape for mutual fund distributors across the country.
Strategic Investment and Backing
The funding round attracted substantial participation from AssetPlus’s existing investor base, including Eight Roads Ventures and Rainmatter Fund, the investment arm backed by Zerodha co-founder Nithin Kamath. Additionally, Bhupinder Singh, founder of InCred Group, joined the round, underscoring the confidence established financial leaders have in AssetPlus’s vision and execution capabilities. The company had previously raised $12.9 million from investors including InCred Capital.
Empowering Financial Advisors Through Technology
Since its inception in 2016, AssetPlus has been on a mission to digitally empower mutual fund distributors. Founded by entrepreneurs Vishranth Suresh and Awanish Raj, the platform has grown to support over 18,000 distributors nationwide, providing them with sophisticated technology tools to scale their advisory businesses efficiently. The company operates a B2B2C platform that enables these professionals to handle onboarding, transactions, compliance, and portfolio servicing seamlessly.
Impressive Growth Trajectory
AssetPlus’s performance metrics reflect the platform’s strong market adoption. The company currently oversees assets exceeding Rs 7,250 crore and processes a monthly systematic investment plan book surpassing Rs 100 crore. Through its network of distributors, AssetPlus serves more than 1.5 lakh retail investors, with typical customer portfolios ranging between Rs 5 lakh and Rs 2 crore, and average monthly SIP investments of Rs 10,000 to Rs 12,000.
Future Expansion Plans
The fresh capital infusion will primarily focus on strengthening technological infrastructure and expanding product capabilities. AssetPlus has outlined plans to introduce Portfolio Management Services within the next six months, catering to high net worth individuals seeking personalized investment strategies. Furthermore, the company intends to enable global investment opportunities through Gift City. The platform has evolved beyond mutual funds to include insurance products such as term and health plans, along with fixed deposits and retirement focused products, with AI-driven advisory solutions enhancing user experience.
Financial Performance and Industry Impact
For the financial year ended March 2025, AssetPlus reported revenue of approximately Rs 33.9 crore. This funding round highlights the growing investor confidence in technology driven wealth management solutions that combine human advice with technology led scale, contributing to the strengthening of India’s wealth ecosystem.
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