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Funding · Financial Services

Veriqus Group raises ₹387 crore from Norwest

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Date
Company
Veriqus Group
What it does
Integrated wealth and asset management platform
Kind
Funding
Amount
₹387 crore
Sector
Financial Services

What they do

Veriqus Group is an integrated wealth and asset management platform for high-net-worth individuals and institutions

What happened

It raised ₹387 crore (~$40.1M) in a funding round led by Norwest Venture Partners, with family offices and ultra-high-net-worth individuals participating

Why it matters

The funds will be used to build a technology and AI-powered platform and expand into Tier-II cities beyond major metros

The details

  • Veriqus Group raised ₹387 crore (~$40.1M) in a funding round led by Norwest Venture Partners.
  • Family offices and a few ultra-high-net-worth individuals also participated in the round.
  • The company launched its integrated wealth management, asset management, business advisory and lending solutions platform alongside the funding announcement.
  • Co-founder Ashish Gumashta will lead the wealth management business.
  • Co-founder Roshi Jain will head the asset management arm.
  • The funding will be used to build the platform from the ground up with technology and AI at its core.
  • Veriqus plans to expand into Tier-II cities and other high-growth cities beyond major metros.

The bigger picture

  • India's wealth management industry is at an inflection point driven by rapid wealth creation beyond major metros, increasing financialisation of savings, and demand for holistic advice.
  • India's asset management market is projected to grow from $2.7 trillion in 2026 to $5.82 trillion by 2031.
  • The platform follows an open-architecture model, offering investment products across public equity, private equity, fixed income, alternative assets and real estate.

About the business

  • Veriqus Group is an integrated wealth and asset management platform serving high-net-worth individuals, family offices, entrepreneurs and institutions.
  • The platform offers wealth management, asset management, business advisory and lending solutions on a single integrated platform.
  • The wealth management business is built as a technology and AI-enabled platform with capabilities across portfolio analytics, risk monitoring, client reporting and decision support.
  • The asset management arm focuses on fundamental research, real-economy intelligence, disciplined investing and a long-term approach to deliver risk-adjusted returns.
  • The business advisory and lending verticals provide strategic capital solutions for growth, acquisitions and liquidity needs.
  • The platform follows an open-architecture model, offering investment products across public equity, private equity, fixed income, alternative assets and real estate, delivered through its own team and external partners.

What happens next

  • Build the integrated wealth and asset management platform from the ground up with technology and AI at its core.
  • Expand into Tier-II cities and other high-growth cities beyond major metros.

The deal

Type
funding

Investors

Founders

  • Ashish Gumashta, Co-founder, will lead wealth management business
  • Roshi Jain, Co-founder, will head asset management arm

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