Centricity has raised ₹50 crore ($6m USD) of venture debt beside ₹230 crore ($27m USD) of equity led by SMBC Asia Rising Fund. The Gurugram company announced the mixed Series A on 13 August 2026, with the two sleeves totalling ₹280 crore.
SMBC was the only new institutional investor, the Economic Times reported. Existing backers Lightspeed India Partners, Burman Family Office, RAAY Investments and the Kuldeep Rathi Family Office also participated. Stride Ventures and InnoVen Capital, the named growth-debt houses in the syndicate, were listed among the participants.
Founder and Chief Executive Manu Awasthy told the Economic Times the funds were raised at a valuation of around ₹1,800 crore.
Proceeds will go to the technology stack, One Digital, the company's B2B2C wealth-distribution platform, domestic private wealth and the NRI book. Centricity plans to hire more than 50 private bankers in India and a further 35 to 40 for NRI clients. The NRI business operates through GIFT City and the Dubai International Financial Centre.
Centricity is a wealthtech, founded in 2022, that sells investment infrastructure to advisers and runs a private wealth and NRI offering. It said it manages more than ₹15,000 crore of assets.
The Series A follows a seed round in 2024 and a $4 million pre-seed in 2022.
SMBC Asia Rising Fund is a $200 million corporate venture capital vehicle established in Singapore in April 2023 by Sumitomo Mitsui Banking Corporation and Incubate Fund. The fund has a 10-year investment period and is managed by Incubate Fund's Singapore office. Rajeev Kannan, Senior Managing Executive Officer and Head of India Division at SMBC, said rising adoption of financial assets and demand for technology-led advisory were reshaping Indian wealth management.
Stride Ventures, founded in 2019, is an Indian venture debt firm. It closed its third domestic fund at $165 million in 2024. The firm has since been raising successor vehicles covering India, the Gulf Cooperation Council and the United Kingdom, and says it has enabled more than $1.6 billion of credit.
InnoVen Capital is a venture debt platform established in 2015 as a joint venture between Seviora, a Temasek subsidiary, and United Overseas Bank. It operates in India, China and Singapore. The group says it has invested more than $1.9 billion across more than 770 debt transactions.