Centricity raises Rs 280 Cr in Series A led by SMBC Asia Rising Fund

In a significant funding round, technology-driven wealth management firm Centricity has secured Rs 280 crore in a Series A round, led by SMBC Asia Rising Fund. The company, founded in 2022 by experienced private bankers, raised capital from a host of investors, including Lightspeed India Partners, Burman Family Office, RAAY Investments, Kuldeep Rathi Family Office, Stride Venture, and Innoven Capital.

Centricity's funding will be utilized to bolster its proprietary technology platform, enhance its B2B2C wealth distribution system, expedite growth in its private wealth and NRI global private client businesses, and fortify its market presence both domestically and internationally.

Founded in 2022, Centricity offers a range of services under its One Digital, Invictus Private Wealth, and NRI Global Private Client segments. Speaking about the funding, Centricity's founder and CEO Manu Awasthy expressed his satisfaction, stating, "This investment is a defining endorsement of Centricity's vision, business model, and execution. The partnership with SMBC's venture capital arm is another strong vote of confidence in what we have built in just three years."

Centricity currently manages assets worth over Rs 15,000 crore, with 60% of the assets under management (AUM) coming from advisor-related assets. The firm serves a network of over 20,000 partners, caters to more than one lakh investors, and collaborates with more than 250 family offices. With a workforce of 800+ professionals, Centricity is on track to surpass Rs 150 crore in revenue in FY27, having recorded a nearly 200% growth in the past year alone.

Unlike traditional private wealth models, Centricity's advisor/distributor-first platform focuses on transparency and open architecture.