Gurugram-based wealthtech startup, ZFunds, has successfully raised INR 25 crore (USD 3 million) in its seed funding round, marking a significant step in the company’s growth trajectory. The funding was led by Elevation Capital, with participation from Yashish Dahiya, CEO of PB Fintech. The latest round underscores the growing investor confidence in India’s wealthtech ecosystem and highlights ZFunds’ potential as a key player in transforming the country’s financial services landscape.
Founded in 2019 by Manish Kothari and Vidhi Tuteja, ZFunds has quickly established itself as an innovative platform that offers a wide range of services for mutual fund distributors and investors. Its intuitive platform helps users track asset performance, receive personalized product recommendations, and facilitates seamless fund redemption. ZFunds also provides its network of over 10,000 agents with research-driven insights, empowering them to offer expert financial advice and better serve their clients.
Manish Kothari, Co-founder and CEO of ZFunds, emphasized the changing dynamics in the financial advisory industry. “Mutual fund distribution and financial advisory is no longer a one-person job. Intermediaries must quickly adapt to four key facets of this business: personalized advice and support, technology, regulatory compliance, and product research,” he said. “Today’s customers are well-informed and actively seek these elements from their mutual fund distributors. As their savings grow and become more substantial, their demand for these services will only increase.”
ZFunds currently serves a customer base of over 60,000 individuals, and with the fresh capital raised, the startup plans to expand its distribution network and enhance its technical capabilities. This will help strengthen its position in India’s fast-growing wealthtech sector.
Kshitij Jayakrishnan, Vice President at Elevation Capital, praised ZFunds’ leadership team for combining deep wealth management expertise with strong product and technology leadership. “ZFunds combines Manish Kothari’s extensive wealth management experience with Vidhi Tuteja’s exceptional product and technology leadership to create a platform that empowers mutual fund distributors with innovative tools, training, and support,” Jayakrishnan said. “By leveraging technology to streamline processes and enhance distributor success, ZFunds is setting a new standard in the industry. Their remarkable execution and efficiency make them a transformative player in India’s financial product distribution ecosystem.”
The funding round and the backing from prominent investors highlight the rising demand for fintech solutions in India, particularly in the wealthtech space. In recent months, several startups in this sector—such as Neo, Dezerv, and Centricity—have collectively raised over USD 200 million, further emphasizing the sector’s rapid growth. ZFunds is well-positioned to capitalize on this momentum, offering innovative solutions to make wealth management more accessible to individuals across India.
With its customer-centric approach and growing distribution network, ZFunds is poised to continue expanding its footprint in India’s burgeoning fintech market, solidifying its place as a leader in wealthtech innovation.
