ZFunds, a Gurugram-based wealthtech startup, has successfully raised ₹25 crore (approximately $3 million) in its first significant institutional funding round.
The round was led by Elevation Capital, with additional participation from Yashish Dahiya, CEO of the PB Fintech group. This fresh infusion of capital underscores growing investor confidence in the startup’s vision to simplify financial planning for Indians.
ZFunds plans to leverage the funds to expand its distribution network and enhance its technical infrastructure. By integrating advanced technology with its services, the startup aims to provide seamless solutions for its customers and agents alike.
Launched in 2019 by Manish Kothari and Vidhi Tuteja, ZFunds offers a comprehensive suite of wealth management tools. The platform not only tracks asset performance and suggests new financial products but also supports clients during fund redemption processes. Additionally, ZFunds equips its network of over 10,000 agents with valuable research insights, helping them better understand financial markets and cater to their 60,000-strong customer base effectively.
“ZFunds was built on the principle of making wealth management accessible and insightful for all. With this funding, we’re set to expand our impact and continue empowering both agents and investors,” said Manish Kothari, co-founder of ZFunds.
India’s wealthtech sector is witnessing significant momentum, with startups such as Neo, Dezerv, and Fisdom collectively raising over $200 million across 13 deals since October 2023. ZFunds’ latest funding round adds to this trend, reflecting the growing appetite for technology-driven financial solutions in the Indian market.
With its robust plans for growth and a customer-centric approach, ZFunds is well-positioned to play a key role in shaping the future of wealth management in India