Dezerv, a wealth management platform based in Mumbai, has been able to successfully finalize its Series C round of funding it raising ₹350 crore, or about $40 million. It was an all-primary round that was co-led by well-known investors Premji Invest and Accel Growth Fund. Other financial investors such as Elevation Capital and Z47 (previously known as Matrix Partners India) also continued to participate in the round. The Series C is the third major funding milestone of Dezerv within less than three years since it was founded. 

Funding and strategic utilisation of fresh capital

The latest fundraiser is a continuation of the successes of Dezerv, such as a $32 million series B round of funding in July 2024, also led by Premji Invest. The amount of funds the company has raised since its launch is now approximately $100 million. This amount is in addition to its original 2021 seed round of $7 million, which was co-led by Elevation and Matrix. As part of its dedication to its staff, Dezerv also carried out an Employee Stock Ownership Program (ESOP) buyback this year worth $5.3 million to its current and former workers, a constitutive reward.

Dezerv has spelled out a clear plan on how to utilize the recently acquired capital. The investments will be mainly focused on the improvement of the client experience and the technological possibilities of the platform. The firm will expand its range of investment products in the different asset classes in a significant manner. One of the major elements of the strategy is its extension of the team. Dezerv is planning on employing 200 more relationship managers within the next year to properly cater to its fast-expanding customer base and to continue providing personalized service delivery.

Expansion plan and financial performance

Dezerv was founded in April 2021. Dezerv deals with the provision of wealth advisory and total portfolio management services. The young professionals and business owners (mainly top-salaried) are its main target audience. The company enjoys the expertise of its own financial analyst, and it boasts a good track record of performance since it has reportedly been able to offer almost 30% returns to its users since its inception.

Dezerv has a presence in over 200 cities in India and physical offices in major megacities, such as Mumbai, Delhi, Bengaluru, Hyderabad, and Pune. The platform will apply the account aggregator framework in India to create even more personalized wealth solutions. Dezerv will also expand its proprietary One Model platform to include other asset classes such as InvITs (Infrastructure Investment Trusts), REITs (Real Estate Investment Trusts), and precious metals as part of diversification to clients.

A review of the financial performance of Dezerv shows its fast-tracked growth. The operations have increased the revenue of the company by almost three times, up to ₹26.25 crore in the fiscal year 2024 (FY24), as compared to ₹10.20 crore in FY23. According to this report by TheKredible, the top line is growing well.

The company suffered increasing losses of ₹74.53 crore in the same timeframe compared to ₹38.20 crore in FY23. The business has not published its financial values for FY25. The successful completion of this Series C round makes Dezerv one of the fastest-growing wealth-tech platforms in India, as its mission is to democratize access to expert-led portfolio management.

Conclusion

Dezerv was able to raise a successful Series C financing round of ₹350 crore, led by Premji Invest and Accel, which is a good indication of its model and growth potential in the competitive wealth-tech sector. The capital injection is well-targeted to improve their technology, diversify its products by adding new asset classes, and substantially expand its relationship management team. With a special emphasis on high-paid professionals and the expertise-based management of a portfolio, Dezerv has the potential to capitalize on the vast market of advanced, digitally-based wealth solutions in India.