Wealthtech Veriqus Raises Rs 387 Cr Funding from Norwest

Mumbai, Jul 20 (PTI) Wealthtech platform Veriqus Group on Monday said it has raised Rs 387 crore in a funding round led by Norwest Venture Partners.

The funding also saw participation from family offices and a few ultra-high-net-worth individuals, according to a release.

It also announced the launch of an integrated wealth management, asset management, business advisory and lending solutions platform for high-net-worth individuals, family offices and institutional investors.


Ashish Gumashta, former chairman and CEO of Julius Baer India, and Roshi Jain, former senior fund manager at HDFC Asset Management Company, will lead the wealth management and asset management businesses, respectively, the release said.

The company said its wealth management business is being built as a technology and AI-enabled platform with capabilities across portfolio analytics, risk monitoring, client reporting and decision support. The asset management arm will focus on fundamental research and long-term investing.

Veriqus said the business advisory and lending verticals will provide strategic capital solutions for growth, acquisitions and liquidity requirements.

"At Veriqus, our asset management philosophy combines rigorous fundamental research with a long-term investment approach as we strive to deliver superior risk-adjusted returns to our clients and compound wealth for them consistently," said Jain, co-founder of the Veriqus Group.