dezerv. announced its $7m funding in the seed round on 2nd September and this was covered by various publications including The Economic Times, Mint, Your Story.com, Free Press Journal, and many more.
Here is a glimpse of what everyone has to say about dezerv.
dezerv. is a wealth management startup that aims to solve for quality wealth and portfolio management advisory in the country today. It has raised $7 million from Elevation Capital and Matrix Partners India in its maiden institutional fundraising. The company counts Whiteboard Capital, Blume Founders Fund, and other Marquee angels, industry executives, and family offices among its investors. The seed funding offers the company a run-way of another 2-3 years, its co-founders said.
Established in April 2021 by former IIFL Wealth Senior Managing Partners Sandeep Jethwani, Vaibhav Porwal, and Sahil Contractor, dezerv. aims to offer a fresh approach and platform to help underserved Indian professionals access investment expertise. The company has brought together a team of experts across the investing and technology domains with the educational pedigree of globally renowned institutions like MIT, USC, IIMs, and IITs. The team has high-quality work experience from global companies like JP Morgan, UBS, Uber, Brookfield, Morgan Stanley, and Clevertap.
Currently, the platform is “invite-only”; users can apply on its website to access the platform and join a growing club of investors.
With funding, they want to build a very strong, scalable technology infrastructure that is secure, and which provides a high-quality experience to the user. The second big use of this capital is to deepen our investment expertise, we feel that we should further deepen the investment team. And the third is mainly to get our message across. So we are doing a lot of work on educating the users about having the right financial journey, the right kind of approach to investing.
A lot of successful working professionals don't have the time or inclination or bandwidth to be able to allocate and create their own portfolios. For every million households, there are 400 advisors in India as against 5000 advisors per million households in the US. dezerv. offers Indian working professionals a tech-driven financial platform, where they can seek expert advice on managing their money.
Going beyond providing access to vanilla mutual funds, dezerv. will provide an Integrated Portfolio Approach (IPA) combined with white-glove expert advisory. Now the integrated portfolio approach combines our learnings from our experience plus the modern portfolio theory to create multi-asset multi-instrument portfolios, which are offered digitally online. The objective is to optimize and maximize return for the client while controlling for the downside that users might see as markets fluctuate over a period of time
“The second thing we said there was that there is a play that is an interest among users to invest in alternatives, into pre-IPO companies, into startups and high-quality bonds, but there is not enough diligence or review happening on these before they are recommended. So, we said that we want to play that fiduciary role, where we will do diligence and review these kinds of opportunities and offer them to our clients," said Sandeep Jethwani, co-founder.
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