ZFunds, a Gurugram-based wealthtech platform, has raised ₹25 crores ($3 million) in its first major institutional funding round. The round was led by Elevation Capital, with participation from PB Fintech Group CEO Yashish Dahiya.
The fresh capital will be utilized to scale ZFunds’ distribution network and bolster its technological infrastructure, enabling better service delivery and operational efficiency.
Founded in 2019 by Manish Kothari and Vidhi Tuteja, ZFunds offers a platform for tracking asset performance, suggesting tailored financial products, and assisting clients with fund redemptions. Additionally, the company equips its network of over 10,000 financial agents with in-depth research insights to enhance their understanding of financial markets and better serve their clients.
ZFunds currently serves approximately 60,000 customers, leveraging its extensive network of agents to provide personalized financial advisory services.
The funding highlights the ongoing momentum in India’s wealthtech sector, which has witnessed significant investor interest. Startups like Neo, Dezerv, Centricity, Stable Money, Fisdom, InvestorAi, and Wealthy have collectively raised over $200 million across 13 deals since October 2023, underlining the sector’s potential to reshape financial planning and investment in the country.
With this infusion of funds, ZFunds aims to strengthen its position in the competitive wealthtech landscape while driving financial literacy and accessibility for its growing customer base.
