India fintech app Dezerv raises $21m Series A

Dezerv started out as an invite-only platform last year, promising to help clients “invest like the ultra-wealthy.” It has since opened up to a wider user base on a non-invite basis, allowing individuals to make investments as small as INR 50,000 (USD 628). More than 100,000 people have signed up to date.

The company’s assets under management have grown sevenfold in the past six months, according to Vikram Vaidyanathan, a managing director at Matrix India. “Indian wealthtech is at a tipping point, with an influx of new affluent investors over the last few years, who now need expert advice to navigate uncertain markets,” Vaidyanathan said in a statement.

Dezerv claims its integrated portfolio approach is built on decades of investing expertise and portfolio science and is seeing significant demand for high-yield debt and pre-IPO deals. It has recently received alternative investment fund and portfolio management services licenses to broaden its product offerings.

GTM Ventures, and Whiteboard Capital also participated in the Series A, according to AVCJ Research. A seed round of USD 7m came in September last year featuring Elevation, Matrix, and Blume Ventures. Several angel investors have also backed the company.

“We partnered with Dezerv in their seed round based on the belief that they were perfectly poised to deliver on two of our deeply held convictions – financialisation of savings and democratising access to financial products,” Mridul Arora, a partner at Elevation, added.

“In a short period of time, Dezerv is quickly developing into a go-to platform for the emerging affluent in India. We cannot think of a better team to keep building on this vision.”

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• Topics
• South Asia
• Financials
• Technology
• Early-stage
• India
• Accel Partners
• Matrix Partners
• Elevation Capital
• Financial Services
• Fintech