Gurugram-based wealth management startup Centricity has raised Rs 280 crore, or about $30 million, in a Sequence A funding spherical led by SMBC Asia Rising Fund.

Current investors Lightspeed India Companions, Burman Household Workplace, RAAY Investments, Stride Ventures and InnoVen Capital additionally participated within the spherical.

Centricity stated it is going to use the contemporary capital to strengthen its know-how platform, develop its wealth distribution community and speed up the expansion of its non-public wealth and non-resident Indian companies.

The startup can be increasing its worldwide operations by way of its International Personal Shopper enterprise, which presents Indian and abroad funding alternatives by way of GIFT Metropolis and the Dubai Worldwide Monetary Centre.

It plans so as to add greater than 50 non-public bankers in India and between 35 and 40 bankers targeted on NRI shoppers.

“This funding is a defining endorsement of Centricity’s imaginative and prescient, enterprise mannequin, and execution,” Awasthy stated.

Based in 2022 by Awasthy, Gaurav Tiwari, Manish Sharma, Pushpendra Singh and Aditya Shankar, Centricity gives wealth administration providers to monetary advisers, household workplaces and high-net-worth people.

Its companies embody One Digital, a platform that gives monetary product distributors with know-how and entry to investment merchandise, and Invictus Personal Wealth, which caters to rich people and household workplaces. Its International Personal Shopper enterprise focuses on NRI prospects.

Centricity presents merchandise together with mutual funds, insurance coverage, bonds, portfolio administration providers, various funding funds, broking and worldwide funding choices.

The startup manages greater than Rs 16,000 crore in property and works with over 20,000 companions throughout greater than 66 cities. It additionally serves greater than 100,000 traders and over 250 household workplaces, and employs greater than 800 folks.

Centricity expects its income to exceed Rs 150 crore within the monetary yr ending March 2027.

It was loss-making in FY25. Its working income rose to Rs 61.26 crore from Rs 19.02 crore in FY24, whereas its loss widened to Rs 31.72 crore from Rs 9.31 crore over the identical interval.

Centricity beforehand raised a pre-seed spherical in 2022 and a seed round in 2024. 

The most recent fundraising comes amid continued funding in India’s wealth administration know-how sector.