[Funding News] Wealthtech Startup Dezerv Secures $32 Mn in Series B Funding Round

Dezerv, a platform specializing in wealth technology, has successfully secured Rs 265 crore or $32 million in a Series B funding round. The funding was primarily spearheaded by Premji Invest.

the company intends to utilize the newly acquired funds to support its expansion efforts and enhance its financial standing.

The fundraising showcases the Mumbai-based company's capacity to endure the scarcity of finance, particularly in the field of wealth management.

The Dezerv board has approved a special resolution to issue 41,761 Series B CCPS at a price of Rs 63,455 apiece, with the goal of raising Rs 265 crore or $32 million.

Read also - Goat Brand Labs Secures $21 Mn Mix of Debt and Equity Funding Round

Premji Invest led the round with a contribution of Rs 169 crore while existing investors Elevation Capital and Matrix Partners each invested Rs 35 crore. Accel India, the main investor in Dezerv's Series A funding, also contributed Rs 26 crore in the Series B funding round.

Dezerv provides portfolio management services to high-earning individuals and business professionals. It utilizes internal professionals to handle investment portfolios and asserts that it has achieved around 30% returns for its subscribers since its establishment in April 2021.

About Dezerv

Founded in 2021 by Sandeep Jethwani, Dezerv is a wealth management company that combines the expertise of seasoned investment professionals with advanced technology.

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