Wealthtech startup ZFunds raises Rs 25 Cr led by Elevation Capital

Wealthtech startup ZFunds has secured Rs 25 crore ($3 million) in a new round led by Elevation Capital and participation from PB Fintech group chief executive officer (CEO) Yashish Dahiya, in its first major institutional funding round.

According to ZFunds, the proceeds will be used to ramp up its distribution network and strengthen its technical capabilities.

Founded in 2019 by Manish Kothari and Vidhi Tuteja, ZFunds tracks the performance of assets, suggests new products to their clients, and also helps them when they need to redeem the funds.

The platform also provides these agents with in-depth research insights which can help these distributors improve their understanding of the financial markets.

The Gurugram-based company claims to serve around 60,000 customers through more than 10,000 agents. 

According to TheKredible, Indian wealthtech startups such as Neo, Dezerv, Centricity, Stable Money, Fisdom, InvestorAi, and Wealthy have garnered over $200 million in funding across 13 deals since October last year.