AssetPlus raises Rs 175 crore from Nexus Venture Partners, others

AssetPlus, a Wealthtech startup, has raised Rs 175 crore ($19.5 million) in a funding round led by Nexus Venture Partners.

The round also saw participation from existing investors Eight Roads ventures and Rainmatter Fund, backed by zerodha cofounder Nithin Kamath.

The new funds will be used to strengthen the company’s technology and add more products. AssetPlus also plans to launch Portfolio Management Services and offer global investment options through GIFT City for customers within the next six months.

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Speaking on the viability of advice-led models, cofounder and CEO Vishranth Suresh said do-it-yourself (DIY) investing may not be suitable for a large section of Indian retail investors. “We have seen first-hand that customers need guidance, coaching, and decision-making support. This is nearly impossible for a tech platform to deliver purely through app notifications or emails.”

He said that most of AssetPlus’ customers are retail investors, with portfolios usually between ₹5 lakh and ₹2 crore. For SIPs, customers invest an average of ₹10,000–12,000 per month across different funds.

While mutual fund distribution is still its main business, AssetPlus has also moved into insurance products like term and health plans, as well as fixed deposits and retirement-focused products.

Awanish Raj, cofounder and chief technology officer, said AssetPlus is exploring the use of artificial intelligence to improve workflows, risk assessment, and client engagement.

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“In wealth management, a customer might ask ChatGPT for advice, but the desire to speak to a professional doesn’t go away. So instead of replacing advisors, our approach is to give MFDs a copilot, something that makes them better at their job, not something that circumvents them,” said Raj.

 “They (AssetPlus) are building long-term infrastructure for assisted wealth management, which is critical to India’s financial future. Their integrated approach across technology, products and capability building positions them to create lasting impact,” said Anand Datta, partner at Nexus Venture Partners.

About AssetPlus 

Founded in 2016, Chennai-based AssetPlus runs a B2B2C platform that helps mutual fund distributors manage investors, from onboarding and transactions to compliance and portfolio services. Distributors join the platform as partners or sub-distributors, and customers are served through them.

The company works with over 18,000 distributors across India. Together, they manage more than ₹7,250 crore in assets, handle monthly SIP investments of over ₹100 crore, and serve more than 1.5 lakh customers.

AssetPlus aims to reach 100 million Indian households by promoting financial inclusion and wealth creation.

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