Centricity raises $20 million seed round led by Lightspeed
The wealth technology company will expand its technology, distribution and private banking businesses following the September 2024 financing.
Centricity announced a $20 million seed round on 12 September 2024, led by Lightspeed India Partners at a $125 million valuation. Returning investors included the Burman family office and Shantanu Agarwal. Paramark VC and a group of family offices and individual investors also participated.
The Gurugram company planned to develop its technology, expand its sales network and build additional financial services. It aimed to grow the technology team and recruit private bankers as it increased its reach across India.
Centricity operates two complementary businesses. One Digital gives financial distributors tools for onboarding clients, accessing investment products, processing transactions and reporting on portfolios. Invictus serves wealthy individuals and families directly.
The financing followed a $4 million pre-seed round in 2022. The September 2024 investment was intended to expand both platforms and support offerings in areas such as insurance, broking and services for non-resident Indian clients.
Use of funds
Develop One Digital and Invictus
Expand technology and sales teams
Extend wealth management services across India