Elever raises $1.1 Mn in pre-Series A round led by Brand Capital

Portfolio management firm Elever has raised $1.1 million in pre-Series A funding round from Brand Capital, the strategic investment arm of The Times of India Group, along with CXOs of global companies, existing investors, and promoters.

This latest round brings Elever’s total funding to $4 million to date.

The proceeds will be deployed to scale its PMS business, strengthen brand presence, and deepen investor engagement, Elever said in a press release.

Co-founded in 2020 by Anshul Sharan, Karan Aggarwal, Ram Subramaniam, and Santosh R, Elever is a wealth tech platform, specifically a SEBI-registered investment advisor and Portfolio Management Services (PMS) provider. The platform offers a hybrid robo-advisory service and focuses on goal-based investing for retail investors and corporations. It utilizes a data-driven, rule-based, and factor investing approach to help clients achieve their financial goals.

As per market research, India’s wealth management market is projected to grow from $1.1 trillion in FY24 to $2.3 trillion by FY29, with an unmet demand of US$0.4 trillion.

In July this year, the Bengaluru-based startup launched Factorcapro PMS, a PMS strategy designed to provide monthly income and capital protection, primarily targeting retirees & conservative investors.. 

Elever is now targeting to cross Rs 1,000 crore in AUM within the next two years and is committed to empowering investors with tailored investment solutions to meet their sophisticated financial goals.