Centricity's valuation reaches $125 mn in funding round led by Lightspeed

Centricity, a tech-led wealth management company, has raised $20 million in a seed funding round. The investment was led by Lightspeed, with returning investors Burman Family Office and Shantanu Agarwal, among others. The round also saw participation from Paramark VC, a Korean venture capital fund, and a group of renowned family offices and angel investors, including MS Dhoni Family Office, Aakash Chaudhry (former Aakash Institute), NB Ventures Family Office, Ritesh Agarwal (OYO), Vishal Dhupar (managing director, Nvidia), MMG Group Family Office, and Action Tesa Family Office, among others. With this round, the firm stated that its valuation has reached $125 million.

 

MS Dhoni Family Office commented that Centricity's OneDigital platform is on a mission to democratise wealth management for a billion Indians and boost financial product distribution, particularly in tier-II and tier-III towns and cities.

Centricity plans to utilise the fresh capital to expand its operations. The company intends to double its tech development team from 75 to over 150 specialists, focusing on innovations like generative AI-led modules, insure-tech, and broking-tech platforms. Through a “phygital” approach, Centricity aims to empower financial advisors to easily access and transact in financial products while simplifying the understanding of financial portfolios.

“Our scale has been bigger and faster than any wealth management company in India within 15 months of starting operations,” said Manu Awasthy, founder and CEO of Centricity.

Shuvi Shrivastava, partner and advisor at Lightspeed, said that by offering democratised access to all financial products for investors and addressing the largely underserved Indian wealth market, the platform holds significant promise.

Saket Burman from Burman Family Office added, "While others still rely on basic tools, Centricity is offering a cutting-edge solution."