Wealth management startup based in India Dezerv raised $21 million in a funding round led by Accel.
Like economic times reported On Monday (August 8), the company hopes to use the funding to strengthen its user experience, launch new investment opportunities and expand its talent pool.
Founded in 2020, Dezerv is an invite-only financial platform for working professionals in India, offering them a place to receive expert money management advice. The platform allows users to start investing at 50,000 rupees ($6,280).
âThis fundraising is one more step towards our mission to provide real investment expertise to Indian professionals,â co-founder Sandeep Jethwani said in the report.
“Never has the need to achieve better investment results been felt more acutely than in today’s volatile environment. The overwhelming response at our inception, coupled with this fundraising from three of the Indian venture capitalists, further strengthens our mission.”
In addition to Accel, investors in this round include backers Whiteboard Capital, Elevation Capital (formerly Saif Partners) and Matrix Partners India, as well as GTM Ventures.
See also: Indian company CredAble raises $9 million to expand its working capital financing platform
In other recent investment news from India, working capital solutions provider CredAble raised $9 million last week with an equity injection from Indian bank Axis Bank and the company CredAble’s existing OAKS Asset Management.
The company said the new investment will be used to accelerate its growth plans, continue to help small businesses meet their working capital and credit goals, and continue to add to its growing list of alliances with corporate clients and financial institutions.
“This direct investment from Axis Bank and continued support from existing investors validates CredAble’s journey so far in helping India solve its working capital challenges,” said CredAble Co-Founder and CEO Nirav Choksi. .