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Dezerv raises $30 million in round led by Premji Invest

Along with Premji Invest, Dezerv's existing investors including Elevation Capital, Matrix Partners India (aka Z47), and Accel participated in the investment round.

Dezerv raises $30 million in round led by Premji Invest
[Source photo: Chetan Jha]

Wealth management platform Dezerv has raised $30 million (about ₹265 crore) in a funding round led by Premji Invest, the private equity firm founded by Wipro chairman Azim Premji.

Dezerv, which has over ₹7,000 crore in client assets, said it intends to plow the funds into new investment strategies, boost its technology platform to enhance client experience and hire investment specialists for its next growth phase.

Dezerv’s existing investors, Elevation Capital, Matrix Partners India (aka Z47), and Accel, also participated in the round.

“Indian wealth creators are estimated to add nearly $1.2 trillion over the next five years, with their wealth growing at a compound annual rate of 14%,” Sandeep Jethwani, co-founder of Dezerv, said, adding: “At Dezerv, we aim to support India’s affluent and HNIs (high networth individuals) in their wealth creation journey. Over 65% of HNI portfolios often suffer from underperformance due to miss-selling and over-diversification.”

“We address these issues with trusted, customized investment solutions, centrally managed portfolios, and a technology-first approach for superior client experiences. Building trust and delivering top-tier service requires significant capital for client asset security, regulatory compliance, and good governance,”  Jethwani said.

“The financialisation of savings is gaining significant momentum. With the deepening of the capital markets, navigating the complex risk-return dynamics across asset classes becomes increasingly challenging. Dezerv has addressed this with remarkable agility, offering centrally managed portfolios that leverage advanced analytics and technology, providing a personalised client experience sustainable even at scale,” Saravanan Nattanmai, partner at Premji Invest, said.

“They have built a strong product roadmap across various investment solutions, positioning themselves as the most preferred, tech-led, open architecture wealth management platform. Their vision to revolutionise wealth management for India’s emerging wealth creators aligns perfectly with our investment ethos,” Nattanmai added.

“Wealth creation in India is on the brink of a significant surge. We at Elevation believe that India’s affluent+ segment will drive a revenue unlock of up to $100 billion by FY30,” Mridul Arora, partner at Elevation Capital, said, adding that “winning this segment requires differentiated channel acquisitions and high-quality experiences, which Dezerv is capturing with its transparent, tech-led, and customized wealth management solutions.”

Vikram Vaidyanathan, managing director at Matrix Partners India (aka Z47), said: “We have conviction that wealth-tech in India is at an inflection point. Affluent professionals and emerging HNIs are actively seeking new financial products and are more willing to pay for professional expertise today. Dezerv’s digital-first proposition, coupled with a portfolio approach that is the right mix of risk-reward-tax, has catapulted them to being a market leader in a short-span of time. We are privileged to be early backers and are excited to double-down on our partnership.”

“Dezerv is setting a new standard for personalized, transparent, and effective wealth management in India. We are excited to continue our partnership with Sandeep Jethwani, Vaibhav Porwal, Sahil Contractor, and their team as they innovate and scale their platform to address the evolving needs of HNIs,” said Abhinav Chaturvedi, partner at Accel.

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