Wealth-tech startup AssetPlus raises Rs 175 Cr led by Nexus Venture Partners

Wealth-tech startup AssetPlus has secured Rs 175 crore (approximately $19.3 million) in a funding round led by Nexus Venture Partners, with participation from existing investors Eight Roads Ventures and Rainmatter Fund.

The Chennai-based firm had previously mopped up $12.9 million from InCred Capital and others.

The fresh proceeds will be deployed to deepen its technology stack and expand product offerings, AssetPlus said in a press release.

Co-founded in 2016 by Vishranth Suresh and Awanish Raj, AssetPlus provides a digital platform for Mutual Fund Distributors (MFDs) and investors, streamlining mutual fund investing through technology. The company aims to democratize finance by offering seamless digital tools, ONDC integration, and AI-led advisory solutions to enhance financial empowerment.

AssetPlus has also diversified into insurance products, including term and health plans, as well as fixed deposits and retirement-oriented offerings. Over the next six months, it plans to roll out Portfolio Management Services (PMS) and enable global investment options for customers via GIFT City.

The company claims it currently partners with more than 18,000 MFDs across India. Through this network, AssetPlus manages assets exceeding Rs 7,250 crore, oversees a monthly systematic investment plan (SIP) book of over Rs 100 crore, and serves more than 1.5 lakh customers nationwide.

According to AssetPlus, its customer base is largely retail, with typical portfolios ranging from Rs 5 lakh to Rs 2 crore. On the SIP front, customers invest an average of Rs 10,000-12,000 per month across different funds.

The company reported revenue of about Rs 33.9 crore and a net loss of Rs 21 crore for the fiscal year ended March 2025.

According to data compiled by Entrackr, Indian wealthtech startups raised more than $634 million across 51 deals involving 39 startups during 2024 and 2025. Despite this activity, the sector witnessed relatively few large-ticket fundraises, with only six rounds of $30 million or more. These included Syfe’s $53 million round, Smallcase’s $50 million Series D led by Elev8 Venture Partners, Neo’s $48 million raise, and Dezerv’s $40 million round co-led by Premji Invest and Accel.

Last week, Wint Wealth raised $28 million in its Series B round, led by Vertex Ventures Southeast Asia & India.