Fintech Company Dezerv Raises $21M in Series A Funding from Accel, Elevation Capital and Matrix Partners India

Wealth-building platform Dezerv has raised $21m 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 over 50 years of collective experience managing over Rs 50,000 crore. It has been an invite-only platform since its inception. However, it has now opened access to all professionals working in India, giving them the opportunity to invest like the ultra-rich do.

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

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With this fundraising, he 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 investment has been validated as the platform has seen more than a lakh of professionals registering to access it and that number is growing.

Non-traditional investment offerings, which include high-yield debt and pre-IPO offerings, also received strong responses, with most offerings taken up within 24 hours, the company said.

Additionally, Dezerv said, it recently received an AIF and PMS license to expand the investment options available to its users.

Sandeep Jethwani, co-founder of Dezerv said: “This fundraising is one more step towards our mission to provide real investment expertise to Indian professionals. The need for better investment results has never been felt more acutely than in today’s volatile environment. The overwhelming response from our early days, coupled with this fundraising from three of India’s leading venture capital funds, further strengthens our mission. We are delighted to welcome Accel to the partnership, as we are with the continued support of Matrix Partners India and Elevation Capital.

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Commenting on fundraising, Abhinav Chaturvedi, Partner, Accel said, “We are delighted to partner with Dezerv on their journey to provide investment expertise to professionals working in India. As information asymmetry increases in investing and financial products, there is an increased need for domain experts managing money and delivering sustainable returns. We believe the Dezerv team, with decades of experience, is best equipped to fill this gap faced by working professionals in India.

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