India’s wealthtech funding climbs to $634 Mn in 2024–25

India’s wealthtech startup ecosystem is attracting strong consumer and investor interest as technology-driven platforms transform how individuals manage, grow, and invest their money. Once seen largely as a service for high net worth individuals, wealth management is now expanding to the middle class, supported by rising incomes, digital adoption, and improving financial literacy. This shift marks an inflection point for the sector, with wealthtech startups increasingly shaping how young Indians plan, save, and build long-term wealth through accessible and data-led solutions.

Startups such as Neo, Smallcase, Dezerv, and Syfe are among the few players that have attracted the most funding over the last two years, 2024 and 2025.

According to data compiled by Entrackr, Indian wealthtech startups raised over $634 million across 51 deals involving 39 startups during 2024 and 2025. However, the sector saw limited large-ticket rounds, with only six deals of $30 million or more, including 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.

Year-on-Year funding trend

2023 was a subdued year for India’s wealthtech sector, with startups raising just about $55 million across 12 deals, largely driven by Neo’s $35 million funding round, which accounted for the bulk of the capital raised.

The sector staged a strong rise in 2024, clocking over a 3.4X jump in funding to $265 million across 26 deals, supported by several large-ticket investment rounds.

The momentum continued in 2025, with funding rising around 40% year-on-year to $369.34 million, even as the number of deals remained stable at 25 transactions.

Top funded wealthtech startups

Wealthtech funding over the past couple of years has been dominated by a handful of startups, led by Mumbai-based Neo, which raised $112 million across four funding rounds. It was followed by Singapore-headquartered Syfe, which secured $80 million across two tranches. The firm has been focused on scaling its engineering and product teams at its tech headquarters in Gurugram. 

Dezerv also emerged as a major beneficiary after raising $72 million through its Series B and Series C rounds, while social investment and stock market advisory platform StockGro and Bengaluru-based Groww raised $60 million and $50 million, respectively, during this period.

Collectively, these five startups raised about $374 million in 2024 & 2025 and accounted for nearly 59% of the total $634.4 million funding poured into India’s wealthtech ecosystem during the two years.

Consolidations in the Wealthtech

The wealthtech sector also saw five mergers and acquisitions during 2024 and 2025. These included stockbroking platform Groww completing the acquisition of Bengaluru-based wealthtech startup Fisdom, and fintech unicorn CRED entering the wealth management space through its acquisition of mutual fund investment platform Kuvera.

InCred Money, the retail wealthtech arm of the InCred Group, also acquired trading platform Stocko. Other notable transactions included 360 ONE (formerly IIFL Wealth) acquiring Times Internet–owned wealth management platform ET Money, and Nivesh acquiring Wealthzi, a wealth management platform operated by Lime Internet Private Limited.

Active wealthtech investors in 2024&25

Several prominent investors played a key role in shaping India’s wealthtech ecosystem during 2024 and 2025. Among the most active was MUFG, which led two funding rounds in Neo, including $48 million and $20 million investments. Premji Invest, Z47 (formerly Matrix Partners), and Elevation Capital were also active during the period, backing Dezerv’s $72 million fundraise across two rounds. Elevation Capital further extended its presence in the sector by investing in Infinyte.Club and ZFunds, while Z47 participated across multiple wealthtech bets.

Other notable investors active in large-ticket and follow-on rounds included Peak XV Partners, Accel, Elev8 Venture Partners, Bertelsmann India Investments, Venture Catalyst, RTP Global, Lightspeed, Valar Ventures, Unbound, and Euclidean Capital, among others.

The rise of wealthtech firms was foreseen, especially as the broader economy went past critical milestones in terms of official millionaires, or GDP per capita or until more recently, a strong stock market that helped create wealth more broadly among the elite 50 million or less that dominate the economic numbers in India. Therein lies both the opportunity and challenge for these firms, as a broadening of this small base will be critical to the long term growth of these firms, considering the typical SEBI mandated threshold of Rs 50 lakhs of investible corpus for each  account. For now, as these firms introduce many of the newly wealthy to wealth management, or even the ‘old money’ to this option as another ‘asset class’ in a diversified portfolio, the days of managing a significant portion of their clients wealth are not here yet. In a relationship heavy business, finding people to  manage the wealth and confidence of clients is key, and already comes at a huge premium. Automating part of the process will be one aspect of the business in the medium term, but for now, it is clear that the firms are happy to ride the India story to raise capital. The long term change is also a behavioural challenge, as the Indian mindset seems particularly  skeptical of ‘professional’ advice in matters of the mind, and trust continues to command a huge premium. Stories involving a three year period between first pitch and conversion are not as uncommon as one would imagine, and nurturing these relationships is the biggest challenge facing these firms in a volatile economic environment where your predictions from 6 months ago can come back to bite and undermine authority.