Wealth management platform Dezerv has secured funding of Rs 265 crore or USD 32 million in a Series B round led by Premji Invest. This funding shows the Mumbai-based firm’s ability to succeed in the financial industry.

The board at Dezerv has passed a special resolution to issue 41,761 Series B CCPS at an issue price of Rs 63,455 each to raise Rs 265 crore or USD 32 million, according to regulatory filings accessed from the registrar of companies (RoC).

Premji Invest led the round with Rs 169 crore while existing backers Elevation Capital and Matrix Partners contributed Rs 35 crore each. Accel India, which also prompted Dezerv’s Series A financing round, contributed Rs 26 crore during the Series B round.

The company plans to use these new funds to grow and strengthen its financial position.

According to estimates, the company is valued at around Rs 1,715 crore or USD 207 million (post-allotment). Following the Series B round, Premji Invest now holds 9.84% of the capital, while Elevation Capital, Matrix, and Accel hold 42.02% of the company.

Dezerv provides portfolio management services to high-income and business individuals, delivering close to 30% returns since its establishment in April 2021.

Dezerv has raised around USD 60 million to date, including its USD 7 million seed round, led by Elevation and Matrix in September 2021.

Sahil Contractor Sandeep Jethwani and Vaibhav Porwal founded Dezerv. Dezerv manages over INR 7,000 Crores in client assets by strategically allocating them across equities, fixed income, and alternative investments. 

The company’s technology-first approach ensures a superior client experience. With offices in multiple cities and a team of over 250 professionals, Dezerv is dedicated to redefining wealth management in India.

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