Centricity Raises Rs 280 Cr Series A, Valuation Hits Rs 1,800 Cr

Gurugram-based wealth management startup Centricity has closed a Series A funding round of Rs 280 crore, roughly $30 million, with SMBC Asia Rising Fund stepping in as the lead investor. The round adds another marquee name to India’s growing list of well-capitalized wealth-tech players and signals that institutional money still has an appetite for the private wealth space, even as broader startup funding stays selective.

Existing backers Lightspeed India Partners, Burman Family Office, RAAY Investments, Stride Ventures and InnoVen Capital also returned to participate, a vote of confidence that founders in fundraising mode rarely take for granted.

Inside the Rs 280 Crore Funding Round

The Rs 280 crore raised isn’t a straightforward equity check. Founder and CEO Manu Awasthy said the funding round was structured as Rs 230 crore in equity alongside Rs 50 crore in venture debt, a blended approach several late-stage Indian startups have leaned on to preserve ownership while still banking growth capital. The structure values Centricity at approximately Rs 1,800 crore post-money — a meaningful step up for a company that only closed its seed round two years ago.

“This investment is a defining endorsement of Centricity’s vision, business model, and execution,” Awasthy said in a statement, framing the round less as a cash infusion and more as validation from a Japanese banking-backed fund known for its measured, long-horizon bets in Asia.

Who Backed Centricity’s Series A

SMBC Asia Rising Fund leading the round is notable in itself — the fund, tied to Japan’s Sumitomo Mitsui Banking Corporation, tends to back companies with clear regional expansion stories rather than pure domestic plays. That the existing investor bench — Lightspeed India, Burman Family Office, RAAY Investments, Stride Ventures and InnoVen Capital — chose to double down alongside SMBC suggests internal conviction in Centricity’s numbers, not just external enthusiasm.

How Centricity Plans to Use the Fresh Capital

Centricity said the capital will go toward three things: strengthening its technology platform, expanding its wealth distribution network, and accelerating growth in its private wealth and NRI-focused businesses. That last piece matters most strategically. The company is scaling its Global Private Client arm, which routes Indian and overseas investment opportunities through GIFT City and the Dubai International Financial Centre — two jurisdictions that have become go-to hubs for NRI wealth structuring.

On the hiring front, Centricity plans to add more than 50 private bankers within India, plus another 35 to 40 bankers dedicated to NRI clients — a headcount push that signals the company is betting on relationship-driven distribution rather than a purely digital, self-serve model.

Centricity’s Business Snapshot: Assets, Reach and Revenue

Founded in 2022 by Manu Awasthy, Gaurav Tiwari, Manish Sharma, Pushpendra Singh and Aditya Shankar, Centricity has built out three distinct business lines: One Digital, a distribution-tech platform for financial advisers; Invictus Private Wealth, serving HNIs and family offices; and Global Private Client, its NRI-focused unit. Across these, the startup offers mutual funds, insurance, bonds, portfolio management services, alternative investment funds, broking, and international investment products.

Scale Across India

The scale here is hard to ignore. Centricity manages more than Rs 16,000 crore in assets, works with over 20,000 partners spread across more than 66 cities, and serves upward of 100,000 investors and 250-plus family offices. The company currently employs more than 800 people.

Revenue Growth and Losses

The financials tell a growth-at-a-cost story. Operating revenue rose sharply to Rs 61.26 crore in FY25, up from Rs 19.02 crore in FY24 — over 3x growth. But losses widened too, from Rs 9.31 crore to Rs 31.72 crore in the same period. Centricity is projecting revenue north of Rs 150 crore for the financial year ending March 2027, a target that would require the company to roughly triple its top line again inside two years.

Wealth-Tech Funding Momentum in India

Centricity’s raise lands amid steady institutional interest in India’s wealth management technology sector, an area that’s benefited from rising HNI wealth, growing NRI remittance flows, and demand for structured investment routes through GIFT City. The company previously raised a pre-seed round in 2022 and a seed round in 2024, both anchored by Lightspeed India. This Series A marks its largest round yet and its first with a marquee international bank-backed fund at the table.

The wealth and insurance distribution space around Centricity has also seen active consolidation lately. Just weeks before this round, Raise Financial’s Greenlife acquisition added another insurance-broking platform to a services provider’s portfolio, while InCred’s Singapore wealth deal signaled Indian wealth managers are looking abroad for scale too — a trend Centricity’s own GIFT City and Dubai push mirrors closely.

Whether Centricity can close the gap between its widening losses and its ambitious FY27 revenue target will likely shape how the next round is priced — but for now, the Rs 280 crore checks in the bank give it runway to hire, expand into NRI wealth aggressively, and test whether its multi-line model scales the way its investors are betting it will.

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Author

Sachin

Sachin Sidharth is a Digital Marketing professional with a master’s degree in Digital Marketing from Coventry University, UK. He has 10+ years of blogging and online marketing experience. He currently heads Digital Acquisition for a leading London-based Fintech firm. At KnowStartup.com He focuses on writing Digital Marketing guides and manages...