Wealth management Startup 'Waterfield Advisors' wins Rs. 123 crore from Jungle Ventures
In a fresh investment round headed by Jungle Ventures, wealth management platform Waterfield Advisors seeks to raise Rs. 123 crore, or roughly $14.6 million.
According to its regulatory filing obtained from the Registrar of Companies, the company's board has authorized a special resolution to issue 10,92,362 preference shares at an issue price of Rs. 1,126 apiece, raising Rs. 123 crore ($14.6 million).
With an investment of Rs. 100 crore, Jungle Ventures is at the forefront of the capital round. Along with individual investors Bharat Dhirajlal Shah, Vijay Singh, Bandi Vamsikrishna, Corel Traders, Parthasaradhi Reddy, Kekoo Colah, and Smita D Parekh, Co-Founder and CEO Soumya Rajan is contributing the remaining sum.
As decided by the board, the corporation intends to use the revenues for marketing, growth, expansion, and other corporate purposes.
In this round, the company is reportedly raising Rs. 130 crore.
Waterfield Advisors, a fee-based multi-family office and wealth consulting organization founded in 2011 by Soumya Rajan, guarantees objective financial, investing, and succession planning services.
To far, Waterfield Advisors has raised approximately $25 million in capital, including $6 million from ultra-high net-worth individuals and family offices. With 13.83% of the total, Jungle Ventures will be the biggest external shareholder, according to TheKredible, a startup data intelligence platform. Together, Soumya Jain and Sanjay Teli, the company's co-founders, will own 40.07% of the business.
In the fiscal year that concluded in March 2024, Waterfield Advisors' income increased by 33.2% year over year to Rs. 45.7 crore. Additionally, it was able to reduce losses in FY24 by 9.5% to Rs. 28.6 crore.
TheKredible reports that since October 2023, 13 agreements totaling more than $200 million have been made by Indian wealth tech businesses, including Neo, Dezerv, Centricity, Stable Money, Fisdom, Univest, InvestorAi, and Wealthy. According to reports, Smallcase is getting ready for a bigger round of funding, while Centricity and Stable Money are looking for more.
According to its regulatory filing obtained from the Registrar of Companies, the company's board has authorized a special resolution to issue 10,92,362 preference shares at an issue price of Rs. 1,126 apiece, raising Rs. 123 crore ($14.6 million).
With an investment of Rs. 100 crore, Jungle Ventures is at the forefront of the capital round. Along with individual investors Bharat Dhirajlal Shah, Vijay Singh, Bandi Vamsikrishna, Corel Traders, Parthasaradhi Reddy, Kekoo Colah, and Smita D Parekh, Co-Founder and CEO Soumya Rajan is contributing the remaining sum.
As decided by the board, the corporation intends to use the revenues for marketing, growth, expansion, and other corporate purposes.
In this round, the company is reportedly raising Rs. 130 crore.
Waterfield Advisors, a fee-based multi-family office and wealth consulting organization founded in 2011 by Soumya Rajan, guarantees objective financial, investing, and succession planning services.
To far, Waterfield Advisors has raised approximately $25 million in capital, including $6 million from ultra-high net-worth individuals and family offices. With 13.83% of the total, Jungle Ventures will be the biggest external shareholder, according to TheKredible, a startup data intelligence platform. Together, Soumya Jain and Sanjay Teli, the company's co-founders, will own 40.07% of the business.
In the fiscal year that concluded in March 2024, Waterfield Advisors' income increased by 33.2% year over year to Rs. 45.7 crore. Additionally, it was able to reduce losses in FY24 by 9.5% to Rs. 28.6 crore.
TheKredible reports that since October 2023, 13 agreements totaling more than $200 million have been made by Indian wealth tech businesses, including Neo, Dezerv, Centricity, Stable Money, Fisdom, Univest, InvestorAi, and Wealthy. According to reports, Smallcase is getting ready for a bigger round of funding, while Centricity and Stable Money are looking for more.
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