Chennai-based wealth management platform raises Rs 175cr funding

AssetPlus has roped in Sunil Subramaniam, ex-Sundaram MF MD, as Strategic Advisor for distributor training, eyeing 100 million households.

City-based fully digital-assisted wealth management platform AssetPlus raised Rs 175 crore in a funding round led by Nexus Venture Partners, with backing from Eight Roads Ventures and Rainmatter by Zerodha.

The firm, founded in 2016, blends technology with human expertise to empower over 18,000 Mutual Fund Distributors (MFDs) managing Rs 7,250 crore in AUM, a Rs 125 crore monthly SIP book and 1.5 lakh customers, stated a press release issued by the company on Monday. Assets Under Management or AUM represent the total market value of all investments a fund manages for investors while SIP or Systematic Investment Plan invests a fixed amount regularly, usually monthly, into a mutual fund.

The funds will enhance tech infrastructure, expand products and support holistic advice amid rising investor participation and the limits of DIY investing, added the press release.

''We are building wealth management infrastructure that combines human advice with technology-led scale,'' said Co-founder and CEO Vishranth Suresh.

Co-founder and CTO Awanish Raj added, ''We are building systems that remove friction for distributors.'' Nexus Partner Anand Datta noted AssetPlus' ''clarity of vision'' for India's financial future. Eight Roads' Shweta Bhatia and Zerodha's Nithin Kamath praised its MFD-focused model. AssetPlus has roped in Sunil Subramaniam, ex-Sundaram MF MD, as Strategic Advisor for distributor training, eyeing 100 million households.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)