Wealth tech platform Nivesh has announced the acquisition of Wealthzi, a wealth platform operated by Lime Internet Private Limited. This is an important step for the company towards its goal of becoming a 360O platform taking care of complete investment and insurance-related needs of its customers.
Nivesh was founded in 2016 by Anurag Garg and Sridhar Srinivasan, delivering enhanced customer outcomes through AI-driven technology and support. With 60,000 clients across 6,000 Indian pin codes, it’s backed by IAN Fund, LetsVenture, and industry leaders like Basab Pradhan, Rahul Gupta, and Dipak Gupta.
Wealthzi was founded in 2020 by PV Sahad, former founder of VCCircle and Pradeep Pillai, a senior wealth management professional, previously with firms like Reliance Wealth, Karvy Private Wealth, Ameriprise and Deutsche Bank. The team at Wealthzi has 20+ years of experience managing large assets for HNIs, UHNIs and family offices.
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It currently manages more than Rs 500 crore in assets across Mutual Funds, PMS, AIF, Bonds, and other assets. It recently obtained RIA license from SEBI to bolster its offerings and provide advisory services. The integration with Nivesh will enable the team to leverage Nivesh technology platform to further enhance its user experience and scale-up business. The acquisition will also enable the two firms to benefit from synergy in products, research and operations. The combined entity will have AUM of Rs 2,500 crore with a goal of reaching Rs 10,000 crore in assets in the next three years.
Speaking about the acquisition, PV Sahad said, “We are excited to join hands with Nivesh, which is a pioneer in B2B2C wealth offering. Combining Wealthzi’s direct to consumer wealth service with Nivesh’s distribution platform will help create a formidable wealth alliance to cater to India’s fast growing investor base.”
Talking about the acquisition, Anurag Garg, Founder & CEO of Nivesh, said, “We are excited to complete the acquisition of Wealthzi, enabling us to expand our product offerings and target both Affluent and HNI segments, which offer huge potential in managing their wealth. We expect to scale rapidly and emerge as one of the leading players in the industry.”
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