AssetPlus, a digital wealth management platform in India, has raised Rs 175 crore ($19.5 million) in a funding round led by Nexus Venture Partners, per an announcement.
The round also saw the participation of Eight Roads Ventures and Zerodha’s investment vehicle Rainmatter.
“We are building wealth management infrastructure that combines human advice with technology-led scale,” said Vishranth Suresh, co-founder and CEO at AssetPlus. “This capital allows us to accelerate that vision alongside investors who believe in strengthening India’s wealth ecosystem for the long term.”
The company said the funds will go towards improving its technology and expanding its range of products.
AssetPlus currently focuses on mutual funds but also offers health and term insurance, allowing distributors to manage multiple financial products on a single platform.
“They [AssetPlus] are building long-term infrastructure for assisted wealth management, which is critical to India’s financial future. Their integrated approach across technology, products, and capability building positions them to create lasting impact,” said Anand Datta, Partner at Nexus Venture Partners.
Founded in 2016, AssetPlus provides digital tools for assisted wealth management. The platform claims to work with over 18,000 mutual fund distributors across India, who together manage more than Rs 7,250 crore in assets.
AssetPlus also reports a monthly SIP book of over Rs 125 crore and a customer base of more than 1.5 lakh investors.
Nexus, an early-stage venture capital that operates as one team across the US and India, has over $3.2 billion in funds under management. Its portfolio companies include Postman, a startup that provides developers with a toolkit to build apps faster; Zepto, a quick commerce unicorn; and logistics platform Delhivery, among others.
