Wealth management startup Centricity has raised $20 million in a seed funding round, securing a valuation of $125 million. The round was led by Lightspeed, with participation from returning investors such as Burman Family Office and Shantanu Agarwal, along with other notable backers including Paramark VC (a South Korean venture capital fund), MS Dhoni Family Office, Aakash Chaudhry (former CEO of Aakash Institute), NB Ventures Family Office, Ritesh Agarwal (OYO), Vishal Dhupar (Managing Director, Nvidia), MMG Group Family Office, and Action Tesa Family Office.
Founded in 2022 by Manu Awasthy, Gaurav Tiwari, Manish Sharma, Pushpendra Singh, and Aditya Shankar, Centricity’s mission is to streamline the financial advisory process by making it easier for advisors to access and transact in a variety of financial products, while simplifying portfolio management.
In an interview with YourStory, Awasthy revealed that Centricity generated Rs 13.5 crore in revenue during FY23, with a net burn of Rs 1.77 crore. The company has since grown more than threefold in FY24. According to a press statement from the Gurugram-based startup, the fresh capital will be used to scale its two key platforms—Invictus and OneDigital—by enhancing technology and talent, expanding private banking services, and pursuing strategic acquisitions. Additionally, the company plans to double its tech development team from 75 to over 150 specialists, focusing on innovations such as generative AI-led modules, insuretech solutions, and broking tech platforms.
Awasthy highlighted the tech-first approach Centricity brings to wealth management, emphasizing that the startup is addressing the unmet needs of tech-starved investors with simple and effective solutions. “Our scale has been bigger and faster than any other wealth management company in India within just 15 months of operations,” he said.
Centricity’s flagship platform, OneDigital, is a comprehensive solution for Financial Product Distributors (FPDs), offering access to a wide range of financial products from over 100 asset management companies. Since April 2023, the platform has built a network of more than 4,500 FPDs across 12 states and 26 cities, onboarding close to 10,000 clients. The second platform, Invictus, is designed to simplify investment management for Single Family Offices (SFOs) by providing detailed insights, investment mandates, product selection, net worth reporting, and performance tracking. Invictus has already onboarded several SFOs with portfolios exceeding Rs 100 crore.
Shuvi Shrivastava, Partner and Advisor at Lightspeed, praised Centricity’s vision of redefining wealth management. She noted that the company’s user-friendly platform empowers independent financial advisors and former private wealth professionals, while also democratizing access to financial products in India’s underserved wealth market. “We strongly believe in Centricity’s innovative approach and its potential to disrupt the wealth management landscape,” she added.
