Wealthy secures ₹130 cr in funding led by Bertelsmann India Investments

The Series B round led by Bertelsmann India Investments will help expand Wealthy's AI platform and support MFDs who still rely heavily on manual processes

Wealthy, a platform for mutual-fund distributors and wealth management professionals, has raised ₹130 crore in a Series B round led by Bertelsmann India Investments. The round also saw participation from existing investor Alphawave Global, new investor Shepherd’s Hill, and a group of tech entrepreneurs.

 

The company will use the fresh capital to scale the artificial intelligence (AI)-powered platform for mutual fund distributors. It noted that even if the country’s wealth management market is projected to double to ₹200 trillion by FY29, many independent mutual fund distributors (MFDs) lack the digital infrastructure, tools, and product access needed to compete with institutional players.

 

“MFDs continue to spend nearly 70 per cent of their time on manual processes such as KYC (know your customer) and compliance, limiting their ability to scale and focus on client engagement,” the company said in a statement.

 

“India has a fundamental advice gap that technology alone cannot solve. Life Insurance Corporation serves over 40 crore customers, yet mutual funds have only five crore investors — this gap exists because we have too few advisors, and the ones we have lack the tools to scale,” said Aditya Agarwal, cofounder of Wealthy. He added that MFDs have built trust and relationships, but they need technology to scale to the next level.

 

Founded by IIT–IIM alumni Agarwal and Prashant Gupta, the platform processes over ₹300 crore in monthly transactions and has a network of over 6,000 mutual fund distributors serving over 100,000 clients across more than 1,000 towns. According to the company, it has also emerged as the country’s second largest recruiter of distributors, onboarding more than 350 every month. It is currently managing clients’ assets worth ₹5,000 crore.