Wealthtech Startup ZFunds Secures INR 25 Cr in Funding from Elevation Capital
Gurugram-based wealthtech startup ZFunds has secured INR 25 crore (USD 3 million) in its seed funding round, led by Elevation Capital. The round also saw participation from Yashish Dahiya, CEO of PB Fintech, marking a key milestone for the company.
Founded in 2019 by Manish Kothari and Vidhi Tuteja, ZFunds offers an intuitive platform that tracks asset performance, provides personalised product recommendations, and facilitates fund redemption for clients.
Manish Kothari, Co-founder and CEO, ZFunds, said, " "Mutual fund distribution and financial advisory is no longer a one-person job. Intermediaries must quickly adapt to four key facets of this business: personalized advice and support, technology, regulatory compliance, and product research. Today's customers are well-informed and actively seek these elements from their mutual fund distributors. As their savings grow and become more substantial, their demand for these services will only increase".
The platform also empowers its network of over 10,000 agents with in-depth research insights to enhance their financial market expertise.
The startup plans to utilise the fresh funds to expand its distribution network and bolster its technical capabilities, further solidifying its position in the Indian wealthtech ecosystem. Currently, ZFunds serves a robust customer base of 60,000 individuals.
This funding underscores the growing momentum in India's wealthtech sector, with platforms like Neo, Dezerv, and Centricity raising over USD 200 million across 13 deals since October 2023, according to TheKredible. With its customer-focused approach and expanding presence, ZFunds is well-positioned to tap into the thriving fintech market, making wealth management more accessible to individuals across India.