Fintech company Dezerv raises $21 million in Series A funding from Accel, Elevation Capital and Matrix Partners India

Dezerv

Wealth-creation platform Dezerv has raised $21 million in Series A funding, led by Accel with participation from existing investors Matrix Partners India and Elevation Capital.

Dezerv was founded in 2021 by Sandeep Jethwani, Vaibhav Porwal and Sahil Contractor who have 50+ years of collective experience in managing over Rs 50,000 crore. It has been an invite-only platform since inception. However, now it has opened access to all working professionals in India, giving them an opportunity to invest like the ultra-wealthy do.

The platform allows users to invest as low as Rs 50,000. The company plans to make expert-led investing available to professionals using its Integrated Portfolio Approach (IPA).

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With this fundraise, it intends to focus on strengthening the user experience, introducing new investment opportunities and growing the talent pool.

According to the company, the need for expert-led investing has been validated as the platform has witnessed over one lakh working professionals who have signed up for access and this number is growing multifold.

The non-traditional investment offerings, which include high-yield debt and pre-IPO deals have received great responses too, with most of the offerings being subscribed to within 24 hours, claimed the company.

Further, Dezerv said, it has recently received an AIF and PMS licence to broaden the investment options available to its users.

Sandeep Jethwani, Cofounder of Dezerv said, “This fundraise is one more step towards our mission of delivering real investment expertise to India’s working professionals. The need for better investment outcomes has never been felt as acutely as in the current volatile environment. The overwhelming response in our early days coupled with this fundraise from three of India’s top venture capital funds further strengthens our mission. We’re excited to welcome Accel to the partnership, as we are with the continued support from Matrix Partners India and Elevation Capital.”

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Commenting on the fundraise, Abhinav Chaturvedi, Partner, Accel said, “We’re excited to partner with Dezerv in their journey to provide investment expertise to working professionals in India. As the information asymmetry increases when it comes to investing and financial products, there is a greater need for domain experts managing money and delivering sustainable returns. We believe that the team at Dezerv, with decades of experience, is best equipped to fill this gap that working professionals in India face.”

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