Nivesh, a Wealth Tech Platform, Buys Wealthzi

Nitin Konde, Varun Bhardwaj

Nov 9, 2024 — 2 min read

Nivesh, A Wealth Tech Platform, Buys Wealthzi

Wealthzi, a wealth platform run by Lime Internet Private Limited, has been acquired by wealth tech platform Nivesh. This is a significant step for the business in achieving its objective of becoming a 360 degree platform that handles all of its clients' investment and insurance-related demands.

Anurag Garg and Sridhar Srinivasan created Nivesh in 2016, which uses AI-driven technologies and support to improve client results. It has 60,000 customers in 6,000 Indian cities and is supported by LetsVenture, IAN Fund, and prominent figures in the sector like Rahul Gupta, Dipak Gupta, and Basab Pradhan.

What is Wealthzi?

In 2020, Pradeep Pillai, a seasoned wealth management expert who has worked with companies like Reliance Wealth, Karvy Private Wealth, Ameriprise, and Deutsche Bank, and PV Sahad, the former founder of VCCircle, created Wealthzi. The Wealthzi team has managed substantial assets for family offices, UHNIs, and HNIs for more than 20 years.

Mutual funds, PMS, AIF, bonds, and other assets totalling more than INR 500 crore are currently under its management. In order to expand its operations and offer advisory services, it just received an RIA license from SEBI. The team will be able to use the Nivesh technology's platform to improve user experience and expand its business thanks to the integration. Additionally, the purchase will allow the two companies to gain from product, research, and operational synergies. In the next three years, the combined company's assets are expected to exceed INR 10,000 crore, with an AUM of INR 2,500 crore.

Benefits of This Acquisition

Speaking about the advantages of this transaction, PV Sahad stated that the Wealthzi team is thrilled to work with Nivesh, a leader in B2B2C financial offerings. By combining Nivesh's distribution network with Wealthzi's direct-to-consumer wealth service, a strong financial partnership will be formed to serve India's rapidly expanding investor base.

Speaking about the purchase, Nivesh founder and CEO Anurag Garg stated that the company is extremely pleased to have acquired Wealthzi, which would allow it to broaden its product line and target the Affluent and HNI categories, which present enormous opportunities for wealth management. The company anticipates growing quickly and becoming a major force in the sector.

As the growth of stock markets and wealth creation creates new prospects for wealthtech businesses, this acquisition coincides with increased investment in India's wealth management industry.

Citing statistics from the market intelligence platform Tracxn, a prominent media outlet reported on August 19 that during the last two years, investors have invested over $228 million in Indian wealthtech businesses. Consolidation is also occurring in the industry, as seen by an increase in mergers and acquisitions (M&A).