Private Equity

PE Fund Investments

Wealthtech startup Dezerv raises $30-M led by Premji Invest; Whiteboard Cap exits

Economic Times  

Mumbai-based wealth management platform Dezerv has raised USD 30 million in a funding round led by Premji Invest. Existing investors Elevation Capital, Z47 (formerly Matrix Partners) and Accel India also participated. The fundraise comprises a secondary sale of INR 53 crore, which provided an exit to Whiteboard Capital. Post-investment, 54% of Dezerv will be owned by the four institutional investors, while 46% will be held by founders, employees, and other early backers.The primary capital will be used to develop new investment strategies targeting first-time high-net-worth individuals (HNWIs), ultra HNWIs, doctors, engineers, and emerging HNWIs.With this round Dezerv has raised INR 480 Cr of primary capital.

Between Mar 2021 and Aug 2022, Dezerv had raised about USD 28 M from Matrix Partners India, Accel India, Elevation Capital and Whiteboard Capital.