Centricity Wealthtech Raises $4 Million In Pre-Seed Funding Round – Entrepreneur

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Centricity Wealthtech, a B2B2C wealthtech platform for independent investment professionals, Single Family offices (SFO) and corporate treasuries, has raised $4 million in a pre-seed funding round led by Burman family office (Chowdry associates -Saket Burman, MB Finmart Pvt. Ltd -Mohit Burman and Pradip Burman) Shantanu Agarwal (LNJ Bhilwara group) and Arun Jain (Intellect design arena, founder, Polaris software Labs). The company plans to use the funds to strengthen teams across technology, investment product and sales functions as well as increasing brand awareness. It also plans to onboard 1000 to1500 IFAs in the next 24 months with a combined transaction value of at least $1 billion.

Company handout

“Centricity endeavours to build a full stack open-source financial services platform for independent financial advisors (IFA’s), external asset managers (EAM’s) and Single-family offices (SFO’s) to manage investment portfolios efficiently. Our long-term vision is to establish Centricity as India’s largest B2B2C financial distribution brand with technology being at the core of a one stop financial product shop for wealth managers and end investors,” said Manu Awasthy, founder, Centricity Wealthtech.

Founded in early 2022 by former senior private bankers, Centricity aims to build a comprehensive tech solution for a largely unorganized IFA community and former private wealth professionals who wish to be wealth management solopreneurs. Centricity offers plug and play solutions for seamless employee-to-entrepreneur (E2E) transitions.

“Wealth management is an exciting and competitive space globally and in India. It is encouraging to see that experienced professionals from the private wealth management ecosystem have identified value gaps on the technology front and are building a solution around it. The Key here is to understand existing propositions and pain points for both relationship managers as well as clients and then work with industry specific technology teams to innovate”, said Saket Burman.

Source: https://www.entrepreneur.com/en-in/news-and-trends/centricity-wealthtech-raises-4-million-in-pre-seed-funding/435275