Shadine Taufik · · 1 min readIndian fintech firm bags $20.7m at $100m valuation
India-based Dezerv, a fintech platform, has raised US$20.7 million in a series A round led by Accel Partners, Entrackr reported. The round brings the firm’s valuation to US$100 million and its total funds raised to date to US$27.7 million.
Other investors that joined the round include Elevation Capital, Matrix Partners, Whiteboard Capital, and GTM Ventures.
Dezerv is an alternative investment fund and tech-focused portfolio management service (PMS) that targets high-net-worth individuals. The startup offers direct bonds, advice, and startup investment opportunities to its users, with the minimum ticket size for its PMS being 5 million rupees (US$63,411).
The startup was founded in April 2021 by Vaibhav Porwal, Sahil Contractor, and Sandeep Jethwani. It has reportedly been in closed beta mode for the past 10 months.
In September 2021, Dezerv raised US$7 million in a seed round led by Elevation Capital and Matrix Partners India.
See also: Accel, BRI Ventures said to back seed extension round of Indonesian fishery firm
Currency converted from Indian rupee to US dollar: US$1 = 78.89 rupees.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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