Centricity, a Gurugram-based wealth management startup, said on August 13 it raised 2.8 billion rupees (US$29.4 million) in a series A round led by SMBC Asia Rising Fund.

The funding will support the expansion of its technology and wealth distribution business in India and overseas.

Existing backers Lightspeed India Partners, Burman Family Office, RAAY Investments, Kuldeep Rathi Family Office, Stride Venture, and Innoven Capital also took part.

The company said the round includes equity and venture financing.

Founded in 2022, Centricity said the new capital will also support its private wealth and non-resident Indian global private client businesses.

It previously raised US$4 million in pre-seed funding in 2022 and US$18 million in a seed round in 2024.

Centricity runs a B2B2C assisted wealth platform for financial distributors.

It also serves high-net-worth individuals, ultra-high-net-worth individuals, family offices, and retail investors across products including mutual funds, portfolio management services, alternative investment funds, bonds, fixed deposits, and offshore offerings.

The company said it manages 16,000+ crore in assets, works with 20,000+ partners, has 75+ branches in 66+ cities, and has served 100,000+ investors.

SMBC Asia Rising Fund, a Singapore-based venture fund set up by SMBC and Incubate Fund, targets fintech such as lending, payments, supply chain finance, and digital assets in Asia.

🔗 Source: Centricity