Why Are Investors Keen on Indian Wealthtech Startups

Investors in India are channeling funds into wealthtech startups as the middle class seeks diverse investment opportunities, with startups vying against traditional financial advisors for high-net-worth clients. Premji Invest is in advanced talks to lead a funding round in Dezerv, valuing the company at about $170 million pre-money. Lightspeed Venture is set to lead a round in Centricity, while Peak XV has agreed to invest in Neo. Analysts estimate that only 50-55% of India’s wealth management market is currently under professional management. Accel-backed Scripbox is now profitable and manages over $2 billion in assets. Mutual fund accounts in India have grown 3.5 times since 2015, yet the mutual fund AUM-to-GDP ratio is 15%, lower than the global average of 75%. The affluent population in India is expected to more than double over the next five years. Several startups, including Jar and Smallcase, are making significant strides in mutual fund, stock, and gold investments. Major firms like Reliance and BlackRock are also entering the market with new ventures aimed at providing affordable, tech-enabled investment solutions.

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