Centricity has raised ₹50 crore of venture debt alongside ₹230 crore of equity in a mixed Series A led by SMBC Asia Rising Fund, taking the total round to ₹280 crore. The equity lead was the only new institutional investor in the financing, the Economic Times reported.
Existing investors Lightspeed India Partners, Burman Family Office, RAAY Investments, the Kuldeep Rathi Family Office, Stride Ventures and InnoVen Capital also participated, according to company announcements and media reports. Stride Ventures and InnoVen Capital were the named venture debt investors in the syndicate.
Founder and Chief Executive Manu Awasthy told the Economic Times the funds were raised at a valuation of around ₹1,800 crore. Centricity said proceeds will be used to strengthen its proprietary technology stack, expand One Digital, its B2B2C wealth distribution platform, and build its domestic private wealth and NRI global private client businesses.
The company is also planning to hire more than 50 private bankers for its domestic wealth operation and a further 35 to 40 bankers for NRI clients. Its NRI business offers access to Indian and international investment products through GIFT City and the Dubai International Financial Centre.
Centricity, founded in 2022, provides investment infrastructure and wealth management services to independent financial advisers, retail investors, HNIs, UHNIs and family offices. Its operating verticals include One Digital, Invictus Private Wealth and its Global Private Client business for NRIs.
The company said it manages more than ₹15,000 crore of assets and serves more than 20,000 partners and more than 100,000 investors. Inc42 reported that it is targeting revenue of more than ₹150 crore in FY27, after operating revenue of ₹6.2 crore and a net loss of ₹4.4 crore in FY25, citing Tofler.
The Series A follows a $20 million seed round in 2024 and a $4 million pre-seed round in 2022. SMBC Asia Rising Fund is a corporate venture capital vehicle set up by Sumitomo Mitsui Banking Corporation and Incubate Fund to invest in India and Southeast Asia.
Stride Ventures, founded in 2019, describes itself as a credit fund investing in sponsor-backed ventures across India, the Gulf Cooperation Council, Southeast Asia and the United Kingdom. The firm closed its third India fund at about $165 million in 2024.
InnoVen Capital is a venture lending platform established in 2015 as a joint venture between Seviora, a Temasek subsidiary, and United Overseas Bank. It operates across India, China and Singapore, and says it has invested more than $1.9 billion across over 770 debt transactions.