Chennai-based wealthtech firm AssetPlus has successfully secured $19.2 million in a new funding round led by prominent venture capital firm Nexus Venture Partners. The round also saw participation from existing investors Eight Roads Ventures and Zerodha-backed Rainmatter Fund. This capital infusion is earmarked to enhance the company's technology and expand its product suite for financial distributors.
Strategic Capital for Technological Advancement
The fresh capital will be strategically deployed to deepen the company's technology stack and broaden its range of financial products. AssetPlus plans to introduce Portfolio Management Services and offer global investment options through GIFT City within the next six months. These initiatives are designed to provide more comprehensive wealth management solutions to its growing customer base across India.
Empowering Financial Distributors
AssetPlus operates on a unique B2B2C model, providing a digital platform that empowers mutual fund distributors (MFDs) and financial advisors. The platform equips these partners with the necessary tools for client onboarding, transaction management, and regulatory compliance. This infrastructure enables MFDs to efficiently scale their operations and enhance the quality of their advisory services.
The company's platform currently supports a network of over 18,000 distributors throughout the country. Through this extensive network, AssetPlus manages assets exceeding $79 and facilitates a monthly systematic investment plan (SIP) book of over $1.10. This impressive scale serves more than 1.5 lakh retail investors, demonstrating the model's significant market traction.
Championing the Assisted Wealth Model
Co-founder and CEO Vishranth Suresh believes a purely do-it-yourself investing approach is unsuitable for many Indian retail investors. He highlighted that customers require consistent guidance and support, which automated platforms alone cannot adequately provide. This philosophy underpins the company's focus on a human-led, technology-assisted wealth management experience.
This funding arrives as the Indian wealth management sector sees a clear shift towards assisted and advised models. Growing stock market volatility and an influx of first-time investors are driving the demand for professional financial guidance. AssetPlus is well-positioned to capitalize on this trend by bridging the gap between technology and human expertise.
Future Outlook and AI Integration
Looking ahead, AssetPlus is exploring the integration of artificial intelligence to augment its platform's capabilities. Co-founder and CTO Awanish Raj clarified the vision is not to replace advisors but to provide them with an AI-powered "copilot." This tool will help enhance risk assessment, streamline workflows, and improve overall client engagement for distributors.
While aiming for a long-term goal of reaching 100 million Indian households, the company is also focused on its financial trajectory. AssetPlus projects it will achieve profitability within the next two years, demonstrating a clear path towards sustainable growth. This goal aligns with its broader mission of promoting widespread financial inclusion and wealth creation.
Investor Confidence and Market Growth
The investment reflects strong confidence in the company's strategic direction and its role in the market's evolution. Anand Datta, a partner at Nexus Venture Partners, stated that AssetPlus is building critical long-term infrastructure for assisted wealth management. He praised the firm's integrated approach across technology and products as key to its potential for creating a lasting impact.
The wealthtech sector in India is poised for substantial expansion, with projections indicating the market could reach $95 billion by 2030. The entry of major players further underscores the industry's dynamism and increasing product complexity. This environment reinforces the need for platforms like AssetPlus that support advisors in navigating the market.
This significant funding round marks a pivotal moment for AssetPlus, validating its distributor-led approach to wealth management. The capital will accelerate its mission to empower financial advisors and make expert guidance more accessible across India. As the market continues to mature, the company is now strongly positioned to lead the charge in the assisted wealthtech space.