Now Reading: Centricity raises Rs 280 crore from SMBC fund
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Centricity raises Rs 280 crore from SMBC fund
Wealth management startup Centricity has raised Rs 280 crore in a funding round led by SMBC Asia Rising Fund. Existing investors Lightspeed India Partners, Burman Family Office, and others also participated. The…
The Story in Brief
Wealth management startup Centricity has raised Rs 280 crore in a funding round led by SMBC Asia Rising Fund. Existing investors Lightspeed India Partners, Burman Family Office, and others also participated. The Gurugram-based company, founded in 2022, manages over Rs 15,000 crore in assets and works with more than 20,000 partners and over one lakh investors.
Centricity plans to use the fresh capital to expand its private wealth business and NRI-focused offerings. It expects revenue to cross Rs 150 crore by FY27 and aims to hire over 50 private bankers for domestic business and 35-40 more for NRI clients. The company is also expanding through GIFT City and Dubai International Financial Centre-based services.
The Indian Opinion
Numbers like Rs 15,000 crore in assets and 200% yearly growth sound impressive, but the real test will be how Centricity manages risk as it hires 85-90 new private bankers. The wealth management space is crowded, and quick expansion often leads to compliance slip-ups. Investors should watch the quality of its technology platform and client retention numbers rather than just the capital raised.
Source: timesofindia.indiatimes.com
This story was synthesised by AI from the source linked above.
