Wealth-Tech Startup Wealthy Secures Major Funding Boost
Bengaluru-based wealth-management technology startup Wealthy has successfully raised Rs 130 crore ($14.5 million) in its Series B funding round, marking a significant milestone in the company's growth trajectory. The investment was spearheaded by Bertelsmann India Investments, with strong participation from existing investor Alphawave Global and new investor Shepherd's Hill, along with a consortium of technology entrepreneurs.
Expansion Plans and Technology Enhancement
The freshly acquired capital will be strategically deployed across multiple business verticals. Wealthy plans to significantly invest in technology infrastructure, expand its operational footprint into smaller tier-2 and tier-3 cities, onboard an ambitious target of 50,000 distributors, and work towards achieving the remarkable milestone of Rs 1 lakh crore in assets under management.
The startup has developed an AI-powered platform specifically designed for mutual fund distributors and independent wealth professionals. Their technology suite includes advanced advisory workflows, comprehensive analytics, onboarding tools that facilitate KYC completion in under two minutes, and enterprise-grade digital solutions tailored for distributors' needs.
Strong Market Position and Growth Metrics
Founded by entrepreneurs Aditya Agarwal and Prashant Gupta, Wealthy has established an impressive operational scale. The platform currently processes over Rs 300 crore in monthly transactions and collaborates with more than 6,000 mutual fund distributors who collectively serve over 1 lakh clients across more than 1,000 towns throughout India.
Currently, client assets worth Rs 5,000 crore are being managed through the Wealthy platform. The company demonstrates robust growth momentum, onboarding more than 350 new distributors every month. With 20 offices established across major Indian cities and a dedicated team exceeding 250 professionals, Wealthy has built substantial operational capacity.
Addressing the Digital Infrastructure Gap
Wealthy is strategically targeting the rapidly expanding community of independent mutual fund distributors in India. While the number of these distributors has remarkably doubled to nearly 2 lakh professionals over the past five years, most still operate without adequate digital infrastructure to compete effectively with large institutional players.
According to the company's internal analysis, distributors typically spend close to 70% of their time on manual operational processes such as KYC verification and compliance procedures, highlighting the critical need for technological intervention in this sector.
Co-founder Prashant Gupta emphasized that Wealthy aims to empower a new generation of independent wealth professionals, including former bankers and relationship managers who are transitioning from institutional roles to establish their own practices. The platform provides comprehensive support through technology solutions, research assistance, and access to diverse financial products spanning mutual funds, equities, bonds, Portfolio Management Services (PMS), Alternative Investment Funds (AIFs), and insurance.
Rohit Sood, Partner at Bertelsmann India Investments, commented on the significant growth potential in India's wealth management landscape, noting that less than 15% of Indian households currently have exposure to equities. He expressed confidence that this percentage could rise substantially as India progresses toward developed market income levels, creating enormous opportunities for technology-enabled wealth management platforms like Wealthy.
