Digital Wealth Platform Nivesh Acquires Wealthzi With this acquisition, Nivesh will incorporate Wealthzi's offerings into its technology-driven platform, enhancing user experience and creating operational synergies across products, research, and services.
You're reading BIZ Experiences India, an international franchise of BIZ Experiences Media.
Nivesh, a digital-first wealth tech platform, has announced the acquisition of Wealthzi, a wealth management platform operated by Lime Internet Private Limited.
This strategic move is aimed to support Nivesh's vision of becoming a comprehensive, 360° platform for investment and insurance solutions, broadening its reach in wealth management for diverse customer segments, including affluent and high-net-worth individuals (HNIs).
With this acquisition, Nivesh will incorporate Wealthzi's offerings into its technology-driven platform, enhancing user experience and creating operational synergies across products, research, and services. Together, the merged entity will manage an impressive AUM (Assets Under Management) of INR 2,500 crore, with a shared goal of reaching INR 10,000 crore in assets within the next three years.
Anurag Garg, Nivesh's Founder and CEO, commented, "We are thrilled to bring Wealthzi into the fold. This acquisition allows us to expand our product range and leverage the extensive expertise of Wealthzi's team to accelerate our growth trajectory, positioning us among the industry leaders."
Founded in 2016 by Anurag Garg and Sridhar Srinivasan, Nivesh leverages AI-powered technology to provide high-quality wealth management services to over 60,000 clients across 6,000 pin codes in India. The platform has backing from prominent investors, including IAN Fund and LetsVenture.
Wealthzi, established in 2020 by PV Sahad and Pradeep Pillai, manages over INR 500 crore in assets across diverse investment categories, such as Mutual Funds, PMS, and Bonds.
"We are excited to join hands with Nivesh, which is a pioneer in B2B2C wealth offerings. Combining Wealthzi's direct to consumer wealth service with Nivesh's distribution platform will help create a formidable wealth alliance to cater to India's fast growing investor base."
