Centricity Raises $20 Million in Insurtech Funding Led by Lightspeed India Partners
Overview of Centricity's Funding Round
Centricity, a Gurugram-based wealthtech startup, has successfully raised $20 million in a seed funding round led by Lightspeed India Partners. This funding comes as Centricity pushes to redefine the wealth management landscape in India.
Notable Investors Join the Round
The funding round saw participation from esteemed investors including
Burman Family Office,Shantanu Agarwal, and Aakash Chaudhry, among others. This strategic backing enhances Centricity’s initiatives in the insurtech sector.
Use of Funds and Expansion Plans
- Targeting UHNIs: Centricity aims to serve ultra-high-net-worth individuals who control around 70% of India's wealth.
- Technology Investments: The funds will be directed towards scaling its digital platforms, Invictus and One Digital.
- Network Expansion: Plans to extend the distribution network to 120 cities are underway.
Innovative Financial Solutions
The company's offerings empower independent financial advisors with a comprehensive platform that enhances investment management and digital transactional capabilities.
Conclusion: The Future of Wealth Management
With a vision to build India's largest financial distribution company, Centricity is poised for significant growth in the insurtech space, making strides in digital financial services.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.