Nexedge Capital raises $20m in first funding round
Mirae Asset Venture Investment and Elev8 Venture Partners co-led Nexedge’s first funding round.
Nexedge plans to expand its digital wealth platform and senior relationship-manager network, establish an offshore advisory framework for non-resident Indians and launch an internal NBFC lending business.
The company also plans to reach more tier-two and tier-three cities in India. It reports $3bn in assets under management for 1,300 clients and a network of more than 95 senior private bankers, providing an existing advisory base for the expansion.
Use of funds
Expand digital wealth management platform and senior relationship manager network
Establish NRI offshore advisory framework
Launch internal NBFC lending business
Expand across tier-2 and tier-3 Indian cities