Centricity Secures $20 Million Seed Round Led by Lightspeed to Expand Tech Team and Enhance Financial Solutions
Centricity, an innovative wealth-tech startup, has raised $20 million in its latest seed funding round, valuing the company at $125 million. This round, spearheaded by Lightspeed, will be instrumental in scaling Centricity’s operations and advancing its technology. The company plans to double its te
Centricity, an innovative wealth-tech startup, has raised $20 million in its latest seed funding round, valuing the company at $125 million. This round, spearheaded by Lightspeed, will be instrumental in scaling Centricity’s operations and advancing its technology. The company plans to double its tech team from 75 to over 150 specialists, focusing on generative AI, insure-tech, and broking-tech.
The funding round also saw contributions from previous investors, including the Burman Family Office and Shantanu Agarwal, as well as new participants like Paramark VC—a prominent Korean venture capital firm—and various distinguished Family Offices and angel investors. Notable investors include the MS Dhoni family office, Aakash Chaudhry (ex-Aakash Institute), NB Ventures, Ritesh Agarwal (OYO), Vishal Dhupar (MD of Nvidia), MMG Group Family Office, and Action Tesa Family Office.
Founded in January 2022, Centricity had previously raised $4 million at a $20 million valuation from a range of notable investors, including the Burman Family Office, Shantanu Agarwal of BMD Renewal, Arun Jain of Intellect Design Arena, Ankush Nijhawan of TBO Tek, and Devesh Sachdev of Fusion Microfinance.
Manu Awasthy, Founder & CEO of Centricity, emphasized the company’s commitment to addressing the tech needs of wealth management clients. “End investors in wealth management are tech-starved and crave simple, sincere solutions. Centricity is addressing this gap with a tech-first mindset and practical applications,” he said.
Centricity aims to enhance the accessibility and comprehension of financial products for advisors through a physical approach, blending physical and digital experiences.
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Centricity, an innovative wealth-tech startup, has raised $20 million in its latest seed funding round, valuing the company at $125 million. This round, spearheaded by Lightspeed, will be instrumental in scaling Centricity’s operations and advancing its technology. The company plans to double its te02Who wrote it?
Sanya Baghel · Staff. 1 min read · Sep 13, 2024.03Is this sponsored?
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