AssetPlus is a wealthtech startup that helps people manage and grow their money. The company has raised INR 175 crore ($19.5 million) in a new funding round.
The funding round was led by Nexus Venture Partners. Existing investors Eight Roads Ventures and Rainmatter Fund also took part.
Rainmatter Fund is backed by Nithin Kamath, the co-founder of Zerodha, one of India’s leading fintech companies.
AssetPlus will use the new funds to improve its technology and add more products. The company also plans to launch Portfolio Management Services and offer global investment options through GIFT City for customers within the next six months.
Speaking on the viability of advice-led models, cofounder and CEO Vishranth Suresh said do-it-yourself (DIY) investing may not be suitable for a large section of Indian retail investors. “We have seen first-hand that customers need guidance, coaching, and decision-making support. This is nearly impossible for a tech platform to deliver purely through app notifications or emails.”
He said that most of AssetPlus’ customers are retail investors, with portfolios usually between ₹5 lakh and ₹2 crore. For SIPs, customers invest an average of ₹10,000–12,000 per month across different funds.
Although mutual fund distribution remains AssetPlus’s core business, the company has expanded into other areas as well. It now offers insurance products such as term and health plans, along with fixed deposits and retirement-focused investment options.
Awanish Raj, the co-founder and Chief Technology Officer, said that AssetPlus is also looking at using artificial intelligence to improve internal processes, better assess risk, and engage more effectively with clients.
“In wealth management, a customer might ask ChatGPT for advice, but the desire to speak to a professional doesn’t go away. So instead of replacing advisors, our approach is to give MFDs a copilot, something that makes them better at their job, not something that circumvents them,” said Raj.
“They (AssetPlus) are building long-term infrastructure for assisted wealth management, which is critical to India’s financial future. Their integrated approach across technology, products and capability building positions them to create lasting impact,” said Anand Datta, partner at Nexus Venture Partners.
AssetPlus was founded in 2016 and is based in Chennai. It operates a B2B2C platform that helps mutual fund distributors handle everything from customer onboarding and transactions to compliance and portfolio management.
Distributors use AssetPlus as partners or sub-distributors, and end customers receive services through these distributors on the platform.
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