Wealthtech Centricity Leverages Internet Funding to Expand GenAI Functionality
Wealthtech startup Centricity has raised $20 Mn in its seed funding round, led by Lightspeed, at a valuation of $125 Mn. The investment aims to expand Centricity's technology stack, particularly in building GenAI modules. CEO Manu Awasthy stated that the funds will enhance their growth team and pursue strategic acquisitions.
Enhancing Technology in Wealth Management
Founded in 2022, Centricity addresses the tech deficit faced by end investors through its solutions designed for independent financial advisors. Awasthy emphasizes that their rapid scale surpasses competitors in the wealth management sector, boasting a target to double their tech team.
Strategic Focus and Future Plans
- Growing tech team to over 150 specialists.
- Development of insurtech and brokingtech platforms.
The recent funding round comes amid increased investor interest in the Indian wealthtech space. For instance, other startups like Infinyte.Club and Stable Money have also attracted significant investments recently, indicating a burgeoning market.
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