VC Fund Investments
Wealth mgmt platform Waterfield Advisors raises Rs.123-Cr led by Jungle Ventures
Mumbai-based wealth management platform Waterfield Advisors raises INR 123 crore (around USD 14.6 million) in a funding round led by Jungle Ventures (INR 100 crore). The round saw participation from Soumya Rajan (co-founder, Waterfield Advisors), along with individual investors, including Bharat Dhirajlal Shah, Vijay Singh, Bandi Vamsikrishna, Corel Traders, Parthasaradhi Reddy, Kekoo Colah, and Smita D Parekh. Post-deal, the company will be valued at about INR 723 crore (USD 86 million).The fresh proceeds will be used towards growth, expansion and marketing.Founded in 2011 by Soumya Rajan, Waterfield Advisors is a fee-based multi-family office and wealth advisory firm, offering financial, investment, and succession planning services.The company has recorded a 33.2% year-on-year increase in its revenue to INR 45.7 crore in FY24 and managed to decrease losses by 9.5% to INR 28.6 crore in FY24.
Between Mar 2014 and Feb 2022, Waterfield Advisors had raised about USD 13.54 M from RAAY Global Investments, Gaja Capital, TVS Capital and Zephyr Peacock.For FY24, Waterfield Advisors had reported about INR 45.74 Cr in Operating Income and about INR 28.69 Cr in Net Loss.
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