Wealth-tech startup AssetPlus has successfully raised Rs 175 crore (approximately $19.3 million) in a funding round spearheaded by Nexus Venture Partners, with contributions from existing investors, Eight Roads Ventures and Rainmatter Fund. Based in Chennai, the company had previously secured $12.9 million from InCred Capital and other sources. The new capital will be utilised to enhance its technology infrastructure and expand its range of products, AssetPlus announced in a press statement.

About AssetPlus and Its Mission

Co-founded in 2016 by Vishranth Suresh and Awanish Raj, AssetPlus offers a digital platform designed for Mutual Fund Distributors (MFDs) and investors, simplifying the process of mutual fund investment through technological advancements. The firm aims to make finance accessible to everyone by offering user-friendly digital tools, ONDC integration, and AI-driven advisory solutions to promote financial empowerment.

Diversifying Offerings in Wealth-Tech

AssetPlus has broadened its portfolio to include insurance products, such as term and health plans, alongside fixed deposits and retirement-focused services. In the upcoming six months, the company plans to introduce Portfolio Management Services (PMS) and provide global investment opportunities for clients via GIFT City.

Partnership and Growth Metrics

Currently, AssetPlus collaborates with over 18,000 MFDs throughout India. Through this extensive network, the firm manages assets surpassing Rs 7,250 crore, oversees a monthly systematic investment plan (SIP) book exceeding Rs 100 crore, and serves more than 1.5 lakh customers across the country.

According to AssetPlus, the majority of its customer base is retail, with average portfolio values ranging from Rs 5 lakh to Rs 2 crore. On the SIP front, customers typically invest between Rs 10,000 and Rs 12,000 monthly across various funds.

In the fiscal year ending March 2025, the company reported revenues of approximately Rs 33.9 crore, alongside a net loss of Rs 21 crore.

Wealth-Tech Sector Overview

Data compiled by Startup Superb indicates that Indian wealth-tech startups raised over $634 million across 51 deals involving 39 startups during 2024 and 2025. Despite this considerable activity, the sector has experienced relatively few significant funding rounds, with only six raising $30 million or more. Notable examples include Syfe’s $53 million round, Smallcase’s $50 million Series D led by Elev8 Venture Partners, Neo’s $48 million raise, and Dezerv’s $40 million round co-led by Premji Invest and Accel.

Just last week, Wint Wealth secured $28 million in its Series B funding round, led by Vertex Ventures Southeast Asia and India.