Gurugram-based startup Centricity secures Rs 280 crore in Series A funding led by SMBC Asia Rising Fund, signalling strong investor confidence in India’s evolving wealth management sector amidst a selective funding climate.
Centricity, a Gurugram-based wealth management startup, has raised Rs 280 crore in a Series A round led by SMBC Asia Rising Fund, as India’s wealth-tech sector continues to attract institutional capital despite a more selective funding environment. The company said the round combines Rs 230 crore in equity and Rs 50 crore in venture debt, valuing it at about Rs 1,800 crore post-money. Existing investors including Lightspeed India Partners, Burman Family Office, RAAY Investments, Stride Ventures and InnoVen Capital also joined the round, underscoring continued backing from earlier supporters.
The company’s fundraising comes at a time when SMBC Asia Rising Fund has been adding to its Indian financial services portfolio. DealStreetAsia reported that the fund has made follow-on investments in fintech businesses including Easy Home Finance, Vayana and DPDzero, while other recent bets have included Olyv and Aerem. That pattern suggests the fund is leaning into infrastructure and distribution plays in Indian financial services rather than chasing consumer-facing growth stories alone.
Centricity said the new capital will be used to improve its technology stack, widen its wealth distribution network and expand its private wealth and non-resident Indian businesses. Its Global Private Client arm routes investment offerings through GIFT City and the Dubai International Financial Centre, both of which have become important hubs for cross-border wealth structuring. The company also plans to add more than 50 private bankers in India and another 35 to 40 bankers focused on NRI clients.
Founded in 2022 by Manu Awasthy, Gaurav Tiwari, Manish Sharma, Pushpushpinder Singh and Aditya Shankar, Centricity operates through three lines of business: One Digital, a distribution technology platform for financial advisers; Invictus Private Wealth, which serves high-net-worth individuals and family offices; and Global Private Client, its NRI-focused unit. The platform offers mutual funds, insurance, bonds, portfolio management services, alternative investment funds, broking and international investment products. SignalBase described Centricity as a SaaS-based investment management platform built to help finance professionals run independent practices.
The startup says it now manages more than Rs 16,000 crore in assets, works with over 20,000 partners across more than 66 cities, and serves more than 100,000 investors and more than 250 family offices. It employs over 800 people. Financially, the business is still scaling at a cost: operating revenue rose to Rs 61.26 crore in FY25 from Rs 19.02 crore in FY24, while losses widened to Rs 31.72 crore from Rs 9.31 crore over the same period. Centricity is targeting revenue of more than Rs 150 crore for the year ending March 2027.
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