Bengaluru-based wealthtech startup Wealthy has raised Rs 130 million in a Series B funding round led by Bertelsmann India Investments. Existing investor Alphawave Global, new investor Shepherd’s Hill, and a group of prominent technology entrepreneurs also participated in the round.
According to a press release, this funding will support Wealthy’s goal to develop India’s rapidly growing community of mutual fund distributors (MFDs) by providing advanced AI-powered tools and digital infrastructure.
Founded by IIT and IIM alumni Aditya Agarwal and Prashant Gupta, the startup processes over ₹30 billion transactions every month. We partner with over 6,000 mutual fund distributors, serve over 100,000 customers in 1,000 towns, and hire over 350 distributors every month. The platform currently manages customer assets of Rs 5,000 crore.
In 2022, Wealthy secured Series A funding, also led by Alphawave Global. In the last three years, the company’s assets under management (AUM) have surged from Rs 200 crore to Rs 5,000 crore.
The startup operates across 20 offices across India and is supported by a team of over 250 members with a strong presence in major cities like Bangalore, Mumbai, Hyderabad, Ahmedabad, Surat, Jaipur, Gurugram, Delhi, Faridabad, Ghaziabad, Lucknow, Kanpur and Kolkata.
“There is a fundamental advice gap in India that technology alone cannot solve. LIC serves over 40 million customers, but only 5 million mutual fund investors. This gap exists because we have too few advisors and our advisors lack the tools to scale,” said Aditya Agarwal, co-founder of Wealthy.
Wealthy’s AI-powered platform offers a complete 360-degree solution that combines investments, mutual funds, stocks, PMS, FDs, bonds with protection products such as term insurance and health insurance. Clients and distributors benefit from a dedicated app that provides access to over 200 financial institutions.
“Less than 15% of Indian households have any exposure, directly or indirectly, to the Indian stock market. We believe this number will approach 60% and catch up with developed markets as India continues on its path to becoming a developed economy,” said Rohit Sood, Partner, Bertelsmann India Investments.
Distributors are equipped with AI-powered workflows for real-time alerts and customer engagement, rapid KYC onboarding, and enterprise-grade tools to power their digital presence. The platform also offers advanced analytics to track portfolio performance and understand customer behavior.
