Mumbai-based Veriqus Group has raised ₹387 crore in a funding round led by Norwest Venture Partners. The company plans to use the capital to launch an integrated financial platform providing wealth management, advisory, and lending services. This move marks the firm's entry into serving high-net-worth individuals and institutional clients.
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Veriqus Group has secured ₹387 crore in funding led by Norwest Venture Partners, marking a significant entry for the financial services firm. The capital is aimed at supporting the launch of a new integrated platform that offers a wide range of services including wealth management, asset management, business advisory, and lending. The company plans to use these funds to build out its infrastructure and expand its reach to clients, ranging from high-net-worth individuals and family offices to institutional investors.
The venture is led by industry veterans, including co-founder Ashish Gumashta, who previously served as the Chairman and CEO of Julius Baer India, and Roshi Jain, an experienced fund manager formerly with HDFC Asset Management. The company’s business model for wealth management is built on an open-architecture approach, which allows it to offer a broad selection of products, such as public and private equity, fixed income, and alternative assets like real estate. By utilizing both in-house teams and external partnerships, the company intends to offer tailored solutions to its clients.
A key focus for the company is the integration of technology and artificial intelligence within its wealth management division. These tools are intended to assist with portfolio analytics, risk monitoring, and client reporting. The asset management arm, meanwhile, will prioritize fundamental research and long-term investment strategies. On the lending and advisory side, the firm aims to provide capital solutions for business growth, liquidity, and acquisitions.
Beyond product development, Veriqus Group has outlined plans for geographical growth. The company intends to move beyond major metropolitan hubs to target Tier-II cities and other emerging markets. This strategy is aimed at capturing the growing demand for institutional-quality financial advice among entrepreneurs and business owners in regions that have historically had less access to such specialized services.
For investors and industry observers, the primary monitorable will be the company’s ability to execute its expansion strategy while managing the competitive landscape in India’s crowded wealth and asset management sector. Success will depend on the firm's capacity to maintain service quality as it scales into new regions and the effectiveness of its technology-driven investment approach in delivering results for clients.