Wealthtech firm Nivesh has announced the acquisition of Wealthzi, a wealth management platform operated by Lime Internet Private Limited. Though the financial specifics of the transaction remain confidential, this strategic acquisition marks a significant move for Nivesh as it expands its offerings to include affluent and high-net-worth individuals (HNIs).
The acquisition enables Nivesh to leverage Wealthzi’s SEBI-registered investment advisory (RIA) license, allowing it to provide advanced advisory services. Co-founded by Anurag Garg and Sridhar Srinivasan in 2016, Nivesh has established itself in the industry with AI-driven investment solutions, serving over 60,000 clients across 6,000 Indian pin codes and managing assets totaling Rs 2,000 crore. The firm is backed by reputable investors like IAN Fund and LetsVenture.
Wealthzi, launched in 2020 by PV Sahad, founder of VCCircle, and seasoned wealth management expert Pradeep Pillai, manages assets worth over Rs 500 crore. It offers a wide range of financial products, including mutual funds, portfolio management services (PMS), alternative investment funds (AIFs), and bonds. By joining forces, the two companies are expected to generate strong synergies. Wealthzi will maintain its brand identity, with its team continuing operations while benefiting from Nivesh’s technological infrastructure to enhance user experience and expand reach.
“We are excited to join hands with Nivesh, which is a pioneer in B2B2C wealth offering. 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 PV Sahad, Wealthzi’s co-founder.
This partnership brings the combined assets under management (AUM) to Rs 2,500 crore, with Nivesh setting an ambitious goal of increasing AUM to Rs 10,000 crore within the next three years. According to Anurag Garg, Founder & CEO of Nivesh, “We are excited to complete the acquisition of Wealthzi, enabling us to expand our product offerings and target both Affluent and HNI segments, which offer huge potential in managing their wealth. We expect to scale rapidly and emerge as one of the leading players in the industry.”
In an industry experiencing rapid growth, driven by increased stock market participation and rising wealth, this acquisition solidifies Nivesh’s position as a significant player in the wealthtech sector, ready to serve an even broader base of investors across India.
