Wealth-tech firm AssetPlus has raised Rs 175 crore in a funding round led by Nexus Venture Partners, with existing investors Eight Roads Ventures and Rainmatter also participating. The capital will accelerate the company’s expansion of its assisted wealth management platform and strengthen its technology and product suite.
Background and business model
Founded in 2016 by Vishranth Suresh and Awanish Raj, AssetPlus operates in the wealth-tech segment by combining digital tools with personalised advisory. Rather than promoting a purely self‑service model, the company equips mutual fund distributors (MFDs) with onboarding, compliance, portfolio‑tracking and client‑engagement tools designed to support “assisted investing.” This approach targets retail investors across smaller cities and towns, aiming to raise the quality and reach of financial advice.
Use of funds and product roadmap
AssetPlus says the fresh funding will be used to bolster product development and scale its technology infrastructure. Mutual funds remain the core offering, but the company has expanded into term and health insurance and fixed deposits. Management plans to introduce advanced wealth products such as portfolio management services (PMS) and overseas investment options, potentially leveraging GIFT City structures for international flows.
A substantial portion of the capital will be allocated to enhancing distributor-facing platform capabilities, improving analytics, and building tools for holistic, goal‑based financial planning so advisors can deepen client relationships beyond transactional interactions.
Distribution reach and assets under management
AssetPlus has grown a nationwide distributor network of more than 18,000 mutual fund distributors. The platform manages over Rs 7,250 crore in assets under management (AUM), maintains a monthly SIP book exceeding Rs 100 crore, and serves upwards of 150,000 retail investors. The firm positions itself as an enabling technology partner to advisors rather than a direct competitor, a strategy that has helped it scale in a crowded wealth‑tech landscape.
Financials and outlook
While AUM and user metrics have expanded, AssetPlus is still investing for growth. In the most recent financial year the company reported revenue of about Rs 33.9 crore and a net loss near Rs 21 crore, driven by spending on technology, talent and market expansion. Management expects profitability to emerge as the platform matures and average assets per distributor increase, prioritising sustainable long‑term value over short‑term gains.
Implications for the wealth‑tech sector
The Rs 175 crore round is among the larger growth investments in India’s wealth‑tech space and signals rising investor confidence in hybrid models that combine human advice with digital efficiency. As more first‑time and retail investors enter the market, platforms that empower advisors with better technology and analytics are likely to play an important role in shaping the future of wealth management in India.
