Wealth-management platform Dezerv raises Rs 350 crore led by Premji Invest and Accel’s Global Growth Fund

Wealth management platform Dezerv has raised Rs 350 crore in a funding round co-led by Premji Invest and Accel’s Global Growth Fund, with participation from Elevation Capital and Z47 (formerly Matrix Partners India).

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The fresh capital takes the startup's total funding to more than Rs 850 crore since its launch in 2021.

The Mumbai-based startup plans to deploy the proceeds to enhance its technology stack, broaden its investment solutions across asset classes, and hire relationship managers over the next year. It also launched a Rs 46 crore ESOP buyback earlier this year to reward employees.

Dezerv currently manages over Rs 14,000 crore in assets under management (AUM) across portfolio management services (PMS), alternative investment funds (AIFs), and distribution assets. Its investment-tracking app, covering mutual funds, stocks, bank accounts, NPS, and fixed deposits, has more than five lakh users tracking Rs 2 lakh crore in assets.

Founded by Sandeep Jethwani, Sahil Contractor, and Vaibhav Porwal, all former IIFL Wealth executives, Dezerv operates across 200 cities through offices in Mumbai, Delhi, Bengaluru, Hyderabad, and Pune.

The startup said it intends to leverage India’s account-aggregator framework to deliver more personalized solutions and extend its One Model platform to include new asset classes such as bonds, REITs, InvITs, and precious metals by year-end.

Notably, it also counts OfBusiness cofounders Ruchi Kalra and Asish Mohapatra, Meesho co-founder Vidit Aatrey, and Acko founder Varun Dua among its backers.