RMB Capital India, alongside Basic Roots, has played a pivotal role as financial advisors to Centricity WealthTech in a landmark US$20 million fundraise transaction. RMB Capital India successfully attracted strong interest from multiple investors for the transaction. The funding round was led by Lightspeed India Partners, with co-investments from Paramark Ventures (Korean VC) and notable family offices, including MS Dhoni Family Office, Aakash Chaudhry (former CEO of Aakash Institute), NB Ventures Family Office, Ritesh Agarwal (Founder & CEO of OYO), Vishal Dhupar (MD of Nvidia), MMG Group Family Office, and Action Tesa Family Office, among others.
Lightspeed is a multi-stage global venture capital firm focusing on early stage as well as growth stage investments in the enterprise, fintech, consumer and healthcare sectors. The consortium of family offices, who would add strategic value to the business along with Lightspeed made it an ideal fit for the round.
“It’s been a pleasure to partner with Manu Awasthy and team in their journey towards driving the wealth management penetration in India, while building one of the largest financial asset distribution platforms in the country. Centricity team has demonstrated exceptional capabilities in redefining the wealth management landscape by empowering independent financial advisors (IFAs) with its user-friendly platform and simplifying investment management process for large family offices” says Nitesh Surana, Co-Head, RMB Capital India.
Centricity plans to scale its technology, expand private banking services, and pursue strategic acquisitions.
Currently managing over US$500 million in assets, Centricity has established a robust platform of over 4,500 financial distributors and serves approximately 100 ultra-high-net-worth (UHNI) families. The company also plans to double its tech development team, increasing from 75 to over 150 specialists, focusing on cutting-edge innovations such as Generative AI-led modules, insuretech, and broking tech platforms.
The funds raised will enable Centricity, India’s leading B2B2C digital private wealth management platform, to accelerate its growth and innovation in the country's wealth market and further disrupt India’s underpenetrated wealth management sector through their ambitious goal of building India’s largest financial distribution company.