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HNI-focused wealth mgmt startup Dezerv raises $20-M led by Accel

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Mumbai-based wealth management platform Dezerv has raised USD 20.7 million (INR 162.44 crore) in a Series A funding round led by Accel India. Existing investors Elevation Capital, Matrix Partners, Whiteboard Capital, and GTM Ventures also participated in the round. While Accel invested INR 94.13 crore (USD 12 million), existing investors Elevation Capital and Matrix Partners India added INR 33.4 crore (USD 4.23 million) each. Whiteboard and GTM also joined the round with an infusion of INR 97 lakh and INR 58 lakh, respectively. Dezerv will issue 20 equity shares and 46,289 Series A compulsory convertible preferred shares (CCPS) at INR 35,078.42 per share. Dezerv provides advisory and investment services - targeting senior working professionals and high net-worth individuals (HNIs) - across asset classes and instruments. The startup had raised a seed round of USD 7 million, within six months of its launch in April last year. The new round takes the total fundraise to USD 27.7 million.