Now Reading: Wealthtech Centricity Raises Rs 280 Crore Led by SMBC Fund
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Wealthtech Centricity Raises Rs 280 Crore Led by SMBC Fund
Wealthtech startup Centricity has raised Rs 280 crore in a Series A funding round led by SMBC Asia Rising Fund. The round included Rs 230 crore in equity and Rs 50 crore…
The Story in Brief
Wealthtech startup Centricity has raised Rs 280 crore in a Series A funding round led by SMBC Asia Rising Fund. The round included Rs 230 crore in equity and Rs 50 crore in venture debt, valuing the company at around Rs 1,800 crore. Existing investors Lightspeed India Partners, Burman Family Office, Stride Ventures, and others also participated.
Gurugram-based Centricity, founded in 2022, manages over Rs 15,000 crore in assets and serves more than 20,000 partners and 1 lakh investors. It plans to use the funds to expand its B2B2C wealth-distribution platform and grow its NRI Global Private Client business through GIFT City and Dubai. The startup targets revenue over Rs 150 crore in FY27.
The Indian Opinion
The narrative that India's wealthtech boom is a sure-fire winner for all players deserves scrutiny. Centricity's revenue of Rs 6.2 crore in FY25 versus a net loss of Rs 4.4 crore shows early-stage struggles even as AUM crosses Rs 15,000 crore. The hype of a $95 billion market by FY30 masks a reality where capital is concentrating into fewer rounds, 9 deals in 2026 versus 18 in 2025, per one source. The real test: can Centricity turn its 200% business growth into sustainable profits before the next funding round?
Sources (2): inc42.com, livemint.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
