Wealthtech platform Centricity raised $4 million in pre-seed led by Burman family office, LNJ Bhilwara Group’s Shantanu Agarwal and Polaris Software founder Arun Jain where other angel investors such as Devesh Sachdev of Fusion Microfinance, Devtron Labs’ Rajesh Razdan, TBO cofounder Ankush Nijhawan, Filatex Group’s Purrshottam Bhaggeria, Abhay Agarwal of the Burman family office as well as Pravin Jain and Navin Jain from the Supercircle family office also participated.
Centricity is a wealthtech startup that provides ready-to-use solutions for IFAs looking to transition into the wealth management space. The funding will be used to strengthen the startup’s product and sales teams. It will also use the funds to strengthen its tech vertical and increase brand awareness. It intends to build a full-stack open source financial service platform primarily for IFAs, external asset managers, and single-family offices to efficiently manage investment portfolios. The Indian wealthtech market is expected to triple to nearly $63 billion by FY25, from around $20 billion in FY20.