Waterfield Advisors Raises Rs 123 Cr Funding Led By Jungle Ventures

Wealth management platform Waterfield Advisors is raising Rs 123 crore (about $14.6 million) in a new funding round led by Jungle Ventures. 

The company's board has approved issuing 10,92,362 preference shares at Rs 1,126 each, raising Rs 123 crore ($14.6 million), as per its filing with the Registrar of Companies.

Jungle Ventures V Investment Holding 1 Pte Ltd, based in Singapore, became the largest investor by purchasing 888,099 shares for Rs 99.99 crore. Promoter and director Soumya Rajan bought 17,762 shares for Rs 2 crore. 

Other individual investors, including Bharat Dhirajlal Shah, Vijay Singh, Bandi Vamsikrishna, Corel Traders, Parthasaradhi Reddy, Kekoo Colah, and Smita D Parekh, also took part in the funding round.

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The funds will be used for growth, expansion, marketing and corporate purposes.

After this funding, Waterfield Advisors is estimated to be valued at around Rs 723 crore ($86 million).

About Waterfield Advisors

Founded in 2011 by Soumya Rajan, Waterfield Advisors, based in Mumbai, offers customized wealth management services to ultra-high-net-worth individuals and family offices.

The company saw a 33.2% increase in revenue, reaching Rs 45.7 crore in the fiscal year ending March 2024. It also reduced its losses by 9.5%, bringing them down to Rs 28.6 crore in FY24.

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