Centricity, a rising player in tech-driven wealth management, has successfully secured $20 million in seed funding. The financing round was spearheaded by Lightspeed, with contributions from Paramark VC, the Burman Family Office, Shantanu Agarwal, and several distinguished angel investors, including MS Dhoni’s family office.
This funding round values Centricity at $125 million and will be used to scale its two main platforms: Invictus and One Digital. The company intends to expand its technology development team, increasing its workforce from 75 to over 150 employees, with a focus on advancements in generative AI, insure-tech, and broking-tech. Centricity is also looking to broaden its service offerings in private banking and is strategizing for potential acquisitions to foster growth. The investment will enhance the company’s technological infrastructure and boost its market presence.
Centricity’s platforms aim to streamline financial portfolio management and enhance accessibility for financial advisors and clients, particularly in tier 2 and tier 3 cities. This strategy aligns with the company’s mission to democratize wealth management throughout India.