Centricity Raises USD 20 Million in Seed Funding

New Delhi, Sep 12 (PTI) Digital wealth management platform Centricity has raised USD 20 million (about Rs 168 crore) in a seed funding round that valued the firm at USD 125 million.

The funding round, led by Lightspeed, saw participation from Korean venture capital fund Paramark VC, OYO founder Ritesh Agarwal, NVIDIA MD Vishal Dhupar and family offices of MS Dhoni, NB Ventures, MMG group, and Action Tesa.

"Centricity plans to utilise the fresh capital to expand its operations. The company plans to double its tech development team from 75 to over 150 specialists, focusing on innovations like generative AI-led modules, insure-tech, and broking-tech platforms," a company statement said.

Founded in January 2022, Gurugram-based Centricity raised USD 4 million at a USD 20 million valuation in September 2022.

"End investors in wealth management are tech-starved and crave for simple, sincere solutions. AndCentricity is solving this problem through its tech-first mindset and practical tech applications. Our scale has been bigger and faster than any wealth management company in India within 15 months of starting the operations," Centricity founder and CEO Manu Awasthy said.