A digital-first wealth tech platform Nivesh acquired Wealthzi, a wealth platform operated by Lime Internet. This is an important step for the company towards its goal of becoming a 360O platform taking care of the complete investment and insurance-related needs of its customers.
Nivesh was founded in 2016 by Anurag Garg and Sridhar Srinivasan, delivering enhanced customer outcomes through AI-driven technology and support. With 60,000 clients across 6,000 Indian pin codes, it’s backed by IAN Fund, LetsVenture, and industry leaders like Basab Pradhan, Rahul Gupta, and Dipak Gupta.
Speaking about the acquisition, Sahad said, “We are excited to join hands with Nivesh, which is a pioneer in B2B2C wealth offering. 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.”
Wealthzi was founded in 2020 by PV Sahad, former founder of VCCircle and Pradeep Pillai, a senior wealth management professional, previously with firms like Reliance Wealth, Karvy Private Wealth, Ameriprise and Deutsche Bank. The team at Wealthzi has 20 plus years of experience managing large assets for high-net-worth individuals, and family offices. It currently manages more than Rs 500 crore in assets across mutual funds, portfolio management service, bonds, and other assets. It recently obtained a registered investment advisor (RIA) license from Sebi to bolster its offerings and provide advisory services.
Talking about the acquisition, Anurag Garg, Founder, Nivesh, said, “We are excited to complete the acquisition of Wealthzi, enabling us to expand our product offerings and target both Affluent and HNI segments, which offer huge potential in managing their wealth. We expect to scale rapidly and emerge as one of the leading players in the industry. The operating team of Wealthzi brings with them huge experience, having previously worked with many well-established organizations. Such multi-functional skills are expected to be of huge value at our current stage of evolution.
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