Nivesh: Wealthtech platform Nivesh acquires Wealthzi for undisclosed amount

Wealthtech platform Nivesh has acquired the wealth management platform Wealthzi, operated by Lime Internet Private Limited, for an undisclosed amount.Through this acquisition, Nivesh plans to leverage Wealthzi’s registered investment advisory (RIA) licence to offer investment advisory services, aiming to broaden its product offerings for affluent and high-net-worth individuals (HNIs), Anurag Garg, founder of Nivesh, told ET.

Garg added that all key employees from Wealthzi will join the Nivesh team, and the Wealthzi brand will continue to operate under Nivesh’s ownership.

Founded in 2020 by PV Sahad, founder of the news website VCCircle, and wealth management professional Pradeep Pillai, Wealthzi is a wealth management platform offering direct mutual fund investments and also managing assets worth Rs 500 crore across mutual funds, portfolio management services (PMS), alternative investment funds (AIF), bonds, and other financial products.

Nivesh, founded in 2016 by Garg and Sridhar Srinivasan, is a tech-driven wealth management platform offering AI-powered investment solutions in mutual funds, insurance products, fixed deposits, and other wealth management services.

Backed by investors like IAN Fund and LetsVenture, Nivesh currently manages Rs 2,000 crore in assets for around 60,000 customers. With the acquisition of Wealthzi, the combined entity will manage Rs 2,500 crore in assets.

Nivesh aims to reach assets under management (AUM) of Rs 10,000 crore in the next three years, Garg said.“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,” said Sahad.

The acquisition comes amid heightened investment in India’s wealth management sector, as the expansion of stock markets and wealth generation opens new opportunities for wealthtech startups.

ET reported on August 19 that investors have poured around $228 million into Indian wealthtech startups over the past two years, citing data from the market intelligence platform Tracxn.

The sector is also witnessing consolidation, with more mergers and acquisitions (M&A). In June, 360 One Wealth and Asset Management, formerly IIFL Wealth, signed a definitive agreement to acquire wealthtech platform ET Money for Rs 365.8 crore.