Bengaluru: Wealth management startup Centricity has raised Rs 280 crore led by SMBC Asia Rising Fund, as it looks to expand its technology platform and private wealth business in India and overseas.Existing investors Lightspeed India Partners, Burman Family Office, RAAY Investments, Kuldeep Rathi Family Office, Stride Ventures and InnoVen Capital also participated in the round.Founded in 2022, Gurugram-based Centricity provides technology and investment infrastructure to independent financial advisers, besides offering wealth management services to affluent clients. Its businesses include the One Digital distribution platform, Invictus Private Wealth and an NRI-focused global private client business.The company said it currently manages more than Rs 15,000 crore in assets and works with over 20,000 partners and more than one lakh investors. It also serves over 250 family offices and employs more than 800 people. Centricity expects its revenue to cross Rs 150 crore in FY27 and said its business has grown nearly 200% over the past year.Part of the fresh capital will be used to expand the company’s private wealth business and its offering for non-resident Indians. Centricity plans to hire more than 50 private bankers for its domestic business and another 35-40 bankers focused on NRI clients. It is also expanding through GIFT City and Dubai International Financial Centre-based offerings.“SMBC brings far more than capital. It brings the strength of one of the world’s leading banking groups, strategic banking and credit capabilities, and a long-term partnership that will accelerate our next phase of growth,” founder and CEO Manu Awasthy said.Rajeev Kannan, senior managing executive officer and head of India division at SMBC, said India’s wealth management industry was being driven by greater adoption of financial assets, increasingly sophisticated investors and rising demand for technology-led advisory services.Centricity had earlier raised $4 million in a pre-seed round in 2022 and $18 million in a seed round in 2024.
