Dezerv, a Mumbai-based wealth management platform, has raised $20.7 million in a Series A funding round led by Accel Partners. The funding round also saw participation from existing investors Elevation Capital, Matrix Partners, Whiteboard Capital, and GTM Ventures.

In this funding round, Accel infused Rs 94.13 crore ($12 million), while existing investors Elevation Capital and Matrix Partners added Rs 33.4 crore ($4.23 million) each. Whiteboard and GTM Ventures infused Rs 97 lakh and Rs 58 lakh, respectively.

Post the allotment, co-founders of Dezerv will hold a 42.76% stake collectively, while Elevation and Matrix will have a 16.02% stake each.

Dezerv | High-performance Portfolios Designed By Experts

Founded by Sandeep Jethwani, Vaibhav Porwal, and Sahil Contractor in 2021, Dezerv provides advisory and investment services. The startup particularly targets senior working professionals and high net-worth individuals (HNIs)—across multi-assets and instruments, including alternatives and new asset classes that are offered online. 

The invite-only wealthtech platform combines domain expertise and cutting-edge tech to create high-performing long-term portfolios, providing exclusive investment opportunities for its members.

With its services, the wealthtech platform aims to give successful professionals access to high-quality investing expertise, which has been the unfair advantage of the ultra-wealthy. 

Backed by angel investors, including Ramakant Sharma (LivSpace), Kunal Shah (CRED), Asish Mohapatra and Ruchi Kalra (Ofbusiness), Dezerv claims to have over Rs 600 crore of transacted assets (as of June 2022) on its platform. The Mumbai-based wealth management platform is expected to touch Rs 1,000 crore in the next few months.

Dezerv has recently bagged its Portfolio Management Service (PMS) licence and would add the offering to its current services. The startup previously had raised $7 million in seed funding within six months of its launch in April last year. And with this fresh funding round, Dezerv has raised a total of $27.7 million in funding. 

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