Mutual funds distributor AssetPlus raises Rs.50-Cr from Eight Roads, Rainmatter Capital

Chennai-based mutual fund distributor AssetPlus , which had previously raised equity funding from Rainmatter Capital and InCred, has raised INR 50 crore led by Eight Roads Ventures, a global investment firm backed by Fidelity. Eight Roads Ventures pumped in INR 40 crore and another INR 10 crore was invested by Zerodha-backed Rainmatter in this round.The firm will use the fresh funds for business development, expansion of operations and training of distributor partners. The company has around 12,000 distributors across the country who sell mutual funds and health and term insurance products.AssetPlus was founded in 2016 by IIT Madras graduates Vishranth Suresh and Awanish Raj.