AssetPlus raises Rs 175 cr from Nexus VP, Eight Roads
Wealthtech startup AssetPlus has raised Rs 175 crore ($19.5 million) in a funding round led by Nexus Venture Partners, as the company looks to scale its distributor-led assisted wealth management model, cofounder and CEO Vishranth Suresh said.
Existing investors Eight Roads Ventures and Rainmatter Fund, backed by Zerodha cofounder Nithin Kamath, also participated in the round.
The fresh capital will be used to deepen the Chennai-based company’s technology stack and expand product offerings. AssetPlus is also looking to introduce Portfolio Management Services and offer global investments options through GIFT City for its customers in the next six months, Suresh said.
Founded in 2016, AssetPlus operates a B2B2C platform that enables mutual fund distributors (MFDs) to manage investors across onboarding, transactions, compliance and portfolio servicing. Distributors are onboarded as partners or sub-distributors on the platform, while end customers are serviced through them.
AssetPlus currently works with over 18,000 MFDs across India. Through these distributors, it manages more than Rs 7,250 crore in assets, runs a monthly systematic investment plan (SIP) book of over Rs 100 crore, and serves more than 1.5 lakh customers.
The fundraise comes at a time when India’s wealth management space is seeing increased adoption of assisted and advised models, as stock market volatility, wider retail participation and the growing complexity of financial products drive demand for human-led advice, particularly among first-time investors.
Speaking on the viability of advice-led models, 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 added that AssetPlus’ customer base is largely retail, with typical portfolios ranging from Rs 5 lakh to Rs 2 crore. On the SIP front, customers invest an average of Rs 10,000-12,000 per month across different funds.
While mutual fund distribution remains its core business, AssetPlus has also expanded into insurance products such as term and health plans, along with fixed deposits and retirement-focused offerings.
Awanish Raj, cofounder and chief technology officer of the company said AssetPlus is also exploring artificial intelligence-led enhancements across workflows, risk assessment, and client engagement.
“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.
AssetPlus aims to reach 100 million Indian households promoting financial inclusion and wealth creation.
According to data intelligence platform Tracxn, AssetPlus reported revenue of about Rs 33.9 crore and a net loss of Rs 21 crore for the fiscal year ended March 2025. Suresh said the company expects to turn profitable in the next two years.
‘Need for advice will grow’
Suresh said the growing number of asset management companies and differentiated investment products will increase the complexity for retail investors, increasing the need for MFDs aiding customers to make informed decisions.
Recently, global asset management firm State Street Investment Management said it would invest $65 million in Groww Asset Management Company, while Jio Financial Services and BlackRock infused Rs 229 crore into their joint venture, Jio BlackRock Asset Management.
“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.
As reported by ET, Nexus Venture Partners, which has backed companies such as Zepto and Rapido, recently closed its eighth fund, a $700-million vehicle to make early-stage investments in sectors like fintech, artificial intelligence (AI), enterprise software and consumer across India and the US.
Existing investors Eight Roads Ventures and Rainmatter Fund, backed by Zerodha cofounder Nithin Kamath, also participated in the round.
The fresh capital will be used to deepen the Chennai-based company’s technology stack and expand product offerings. AssetPlus is also looking to introduce Portfolio Management Services and offer global investments options through GIFT City for its customers in the next six months, Suresh said.
Founded in 2016, AssetPlus operates a B2B2C platform that enables mutual fund distributors (MFDs) to manage investors across onboarding, transactions, compliance and portfolio servicing. Distributors are onboarded as partners or sub-distributors on the platform, while end customers are serviced through them.
AssetPlus currently works with over 18,000 MFDs across India. Through these distributors, it manages more than Rs 7,250 crore in assets, runs a monthly systematic investment plan (SIP) book of over Rs 100 crore, and serves more than 1.5 lakh customers.
The fundraise comes at a time when India’s wealth management space is seeing increased adoption of assisted and advised models, as stock market volatility, wider retail participation and the growing complexity of financial products drive demand for human-led advice, particularly among first-time investors.
Speaking on the viability of advice-led models, 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 added that AssetPlus’ customer base is largely retail, with typical portfolios ranging from Rs 5 lakh to Rs 2 crore. On the SIP front, customers invest an average of Rs 10,000-12,000 per month across different funds.
While mutual fund distribution remains its core business, AssetPlus has also expanded into insurance products such as term and health plans, along with fixed deposits and retirement-focused offerings.
Awanish Raj, cofounder and chief technology officer of the company said AssetPlus is also exploring artificial intelligence-led enhancements across workflows, risk assessment, and client engagement.
“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.
AssetPlus aims to reach 100 million Indian households promoting financial inclusion and wealth creation.
According to data intelligence platform Tracxn, AssetPlus reported revenue of about Rs 33.9 crore and a net loss of Rs 21 crore for the fiscal year ended March 2025. Suresh said the company expects to turn profitable in the next two years.
‘Need for advice will grow’
Suresh said the growing number of asset management companies and differentiated investment products will increase the complexity for retail investors, increasing the need for MFDs aiding customers to make informed decisions.
Recently, global asset management firm State Street Investment Management said it would invest $65 million in Groww Asset Management Company, while Jio Financial Services and BlackRock infused Rs 229 crore into their joint venture, Jio BlackRock Asset Management.
“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.
As reported by ET, Nexus Venture Partners, which has backed companies such as Zepto and Rapido, recently closed its eighth fund, a $700-million vehicle to make early-stage investments in sectors like fintech, artificial intelligence (AI), enterprise software and consumer across India and the US.
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