[Funding News] Centricity Secures $20 Mn Seed Funding from Lightspeed

In a seed round, Lightspeed and returning investors Burman Family Office and Shantanu Agarwal, among others, led the investment in wealth management startup Centricity, which raised $20 million at a valuation of $125 million.

According to the Gurugram startup, the new capital will be utilized to expand its two platforms—Invictus and One Digital—with technology and talent, pursue strategic acquisitions and extend private banking services.

Paramark VC, a South Korean venture capital fund, MS Dhoni Family Office, Aakash Chaudhry (Ex-Aakash Institute), NB Ventures Family Office, Ritesh Agarwal (OYO), Vishal Dhupar (MD, Nvidia), MMG Group Family Office, and Action Tesa Family Office were also involved in the round.

Centricity endeavors to facilitate the comprehension of financial portfolios and enable financial advisors to effortlessly access and transact in financial products.

Awasthy disclosed that Centricity generated revenue of Rs 13.5 crore in FY23 and incurred a net loss of Rs 1.77 crore during an interview with YourStory. He asserted that the company has experienced a growth rate that is more than three times that of FY24.

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The company intends to expand its technology development team from 75 to over 150 specialists, with an emphasis on innovations such as insurance tech, broking tech platforms, and Generative AI-led modules.

About Centricity

Founded in 2022 by Manu Awasthy, Centricity helps empower finance and investment professionals aspiring to establish their independent practices. The platform aims to deliver a comprehensive SAAS based investment management platform including digital transactional capabilities for a diversified product suite.

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