Indian wealth management platform Centricity has raised Rs 280 crore ($33 million) in a Series A funding round led by SMBC Asia Rising Fund, per an announcement.
The round also saw participation from existing investors including Lightspeed India Partners, Burman Family Office, RAAY Investments (Amit Patni Family Office), Kuldeep Rathi (ASK Automotive Ltd.) Family Office, Stride Ventures, and InnoVen Capital, among others.
Centricity will use the funds to improve its technology, expand its B2B2C wealth distribution platform, and grow its private wealth, NRI and global private-client businesses, it said in a statement. It also plans to expand into more markets in India and overseas.
“This investment is a defining endorsement of Centricity’s vision, business model, and execution. After the early backing of Lightspeed, the partnership with SMBC’s venture capital arm is another strong vote of confidence in what we have built in just three years,” said Manu Awasthy, founder and CEO at Centricity.
Rajeev Kannan, Senior Managing Executive Officer and Head of India division at SMBC, said: “India’s wealth management industry is entering a transformative phase, supported by three powerful shifts: the growing adoption of financial assets, greater investor sophistication, and rising demand for technology-enabled advisory.”
Established in 2022, Centricity was set up to address gaps in the wealth management sector. It operates across several businesses, including its partner-led B2B2C distribution platform One Digital, Invictus Private Wealth, and its growing NRI global private-client business.
The company last raised $18 million in 2024, and $4 million in 2022.
