Invest-tech Platform dezerv. Raises $7 Mn In Seed Round Co-led By Elevation Capital And Matrix Partners India
Investing platform dezerv. on Thursday announced that it has raised $7 million in a Seed funding round co-led by Elevation Capital and Matrix Partners India, with participation from investors such as Whiteboard Capital and Blume Founders Fund. This round also featured leading tech founders including Kunal Shah (CRED), Ramakant Sharma (LivSpace), Asish Mohapatra & Ruchi Kalra (Ofbusiness), Vidit Aatrey & Sanjeev Barnwal (Meesho), Varun Dua (Acko), Nitin Gupta (Uni), Anurag Sinha (OneCard), Shashvat Nakrani & Suhail Sameer (BharatPe), Revant Bhate (Mosaic) along with marquee family offices including Taparia (FamyCare), RK Kedia (Manjushree), CJ Shah and Neeraj Goenka (Texport) and leading industry professionals like Akash Saxena (Hotstar), K Rangarajan (Five Star) and Aashish Sommaiyaa (WhiteOak).
The company plans to use the funds to continue to build a strong team, launch and scale their invest-tech product platform and redefine the investment experience for working professionals in India.
“dezerv. will leverage the digital adoption and scalable investment infrastructure of post-pandemic India, coupled with decades of our experience to bring world-class investing to Indian professionals. We are excited to launch our unique Integrated Portfolio Approach that looks beyond selecting individual mutual funds, and delivers high-performing portfolios while controlling risk,” said Sandeep Jethwani, Sahil Contractor and Vaibhav Porwal, co-founders, dezerv., in a joint statement.
Established in April 2021 by former IIFL Wealth Senior Managing Partners—Sandeep Jethwani, Vaibhav Porwal and Sahil Contractor—dezerv. aims to offer a fresh approach and platform to help underserved Indian professionals access investment expertise. Going beyond providing access to vanilla mutual funds, dezerv. will provide an integrated portfolio approach (IPA) combined with white-glove expert advisory. This will help users maximize returns while controlling the downside, with the right portfolio mix and also unlock access to new asset classes - currently available only to high-net-worth individuals - such as curated, well-diligence high yielding bonds, and emerging high growth startups.
“We met the dezerv. team earlier this year and were impressed by the depth of insights and wealth of experience that Sandeep, Sahil and Vaibhav brought with them to build dezerv. We are big believers in the financialization of savings and democratizing access to financial products for customers across the affluence spectrum. Using a tech-first approach, dezerv. intends to ride on both these tailwinds and become the go-to platform for emerging affluents as they navigate their savings journey and build a portfolio suitable for their unique need and life goals,” shared Mridul Arora, partner, Elevation Capital.
dezerv. has brought together a team of experts across the investing and technology domains with the educational pedigree of globally renowned institutions like MIT, USC, IIMs, and IITs. The team has high-quality work experience from global companies like JP Morgan, UBS, Uber, Brookfield, Morgan Stanley, and Clevertap.
“Digital-native affluent investors are on the brink of beginning their journey of building a portfolio across different asset classes. They need a solution-focused approach designed by experts and dezerv. aims to do just that. With their deep experience in wealth management over a decade, Sandeep, Sahil, and Vaibhav are best suited to solve this problem and we're excited about partnering with them,” added Vikram Vaidyanathan, managing director, Matrix India.
With more than 80 per cent of large-cap mutual funds underperforming the benchmarks, the odds are already against the average Indian investor. Hence, over 75 per cent of working professionals say that they need guidance on their portfolio and investments, as per a study conducted by the team. Today, this market comprises over 30 million households of working professionals in the country who are adrift without a clear solution to manage their growing pool of wealth. On one end, while DIY platforms offer a marketplace of products, they lack the sophistication in an advisory. On the other end, traditional wealth advisors cater only to the high net worth and ultra-high net worth segments, neglecting the successful, deserving professionals, the company shared.
With their IPA, built by investing experts, dezerv. plans to bring effortless investing to its clients, by providing a curated portfolio combination—handpicked for the individual investor and dynamic to keep abreast with evolving market situations. Currently, the platform is ‘invite-only'; users can apply on thewebsite to access the platform and join a growing club of investors.