Wealthy In, a Bengaluru-headquartered wealth-tech platform focused on mutual fund distributors and wealth management professionals, has raised ₹130 crore in a Series B funding round led by Bertelsmann India Investments (BII).
The company plans to use the capital to deepen its technology stack, expand into Tier-2 and Tier-3 cities, onboard 50,000 distributors, and push towards a target of ₹1 lakh crore in assets under management (AUM).
The round saw participation from existing investor Alphawave Global, new investor Shepherd’s Hill, and a group of prominent technology entrepreneurs. With this fundraise, Wealthy is positioning itself as an infrastructure layer for India’s fast-growing independent mutual fund distributor (MFD) community, combining human-led advice with AI-powered tools.
Rapid scale in AUM, distributor base and footprint
Founded by IIT-IIM alumni Aditya Agarwal and Prashant Gupta, Wealthy.in today processes over ₹300 crore in monthly transactions and works with a network of more than 6,000 mutual fund distributors serving over 100,000 clients across 1,000+ towns. Client assets worth ₹5,000 crore are currently managed on the platform.
The company has expanded aggressively in the last three years: its AUM has grown from around ₹200 crore to ₹5,000 crore over this period, underscoring strong adoption among both distributors and investors.
Wealthy has also emerged as India’s second-largest recruiter of distributors, onboarding over 350 new distributors every month, and operates 20 offices across key markets including Bengaluru, Mumbai, Hyderabad, Ahmedabad, Surat, Jaipur, Gurugram, Delhi, Faridabad, Ghaziabad, Lucknow, Kanpur, and Kolkata, supported by a 250+ member team.
Wealthy’s previous round, a Series A led by Alphawave Global in 2022, laid the foundation for this expansion, with the latest capital injection now aimed at scaling its AI and distribution infrastructure to the next level.
Wealthy In: Betting on India’s mutual fund distributors as “wealth entrepreneurs”
Wealthy’s core thesis rests on the rise of independent mutual fund distributors as the backbone of India’s retail investing story. According to the company, mutual fund AUM in India stands at ₹75 lakh crore, and the broader wealth management market is projected to double to ₹200 lakh crore by FY29. Over the last five years, the number of MFDs has doubled to nearly 2 lakh, as more investors migrate to independent advisors who are not tied to product manufacturers.
Yet, despite this growth, most distributors still operate with limited digital tools. Wealthy points out that MFDs spend close to 70% of their time on manual processes such as KYC and compliance, leaving less room for deeper client engagement and business scaling.
“India has a fundamental advice gap that technology alone cannot solve. LIC serves over 40 crore customers, yet mutual funds have only 5 crore investors, this gap exists because we have too few advisors, and the ones we have lack the tools to scale,” said Aditya Agarwal, Co-founder of Wealthy.
He added that while MFDs have built strong trust with clients, they require technology investment tailored to the Indian context to move to the next level.
“We’ve built a mobile-first, India-made solution designed specifically for how Indians invest and how Indian advisors work,” Agarwal said. “Our platform combines the irreplaceable value of human advice with AI-powered tools, enabling wealth partners to deliver institutional-quality service at scale. This is how we’ll bridge the advice gap and bring sophisticated wealth management to millions.”
From relationship managers to “wealth entrepreneurs”
Co-founder Prashant Gupta describes Wealthy’s mission as unlocking a “new supply of wealth entrepreneurs across India.” The platform is seeing relationship managers, ex-bankers, and finance professionals leave traditional salaried roles to build independent practices on top of Wealthy’s infrastructure.
“We’re seeing relationship managers, ex-bankers, and finance professionals leave traditional roles to build independent practices. These professionals are becoming true wealth entrepreneurs, running their own businesses and building long-term equity,” Gupta said.
Wealthy aims to be a one-stop platform for such professionals:
- Full-stack product access: Mutual funds, equities, bonds, Portfolio Management Services (PMS), Alternative Investment Funds (AIFs), fixed deposits, and insurance products (term and health).
- Technology and tools: Dedicated apps for both distributors and clients, integration with 200+ financial institutions, and a unified view of investments and protection products.
- Business-building support: Personalized websites, branded client applications, and professional marketing resources that help independent distributors present themselves with “institutional-level” digital presence.
Gupta says this holistic approach allows distributors to act as genuine wealth partners rather than mere product sellers, with technology doing the heavy lifting on operations and data.
AI at the core: onboarding, workflows and analytics
A key differentiator for Wealthy is its emphasis on AI-powered workflows designed specifically for Indian advisors. The platform offers:
- AI-powered advisory workflows: Real-time alerts on pending tasks, portfolio health, risk tracking, and client engagement, helping advisors shift from reactive responses to proactive servicing.
- AI-enabled onboarding: Clients can complete KYC and start investing “within two minutes,” significantly cutting down the time spent on paperwork and manual checks.
- Data-driven insights and analytics: Advanced dashboards that help distributors track portfolio performance, understand client behaviour, and monitor their own business growth metrics.
By reducing friction in day-to-day operations, Wealthy aims to free up advisor time for higher-touch conversations, planning, and long-term relationship building — the parts of wealth management that still require human judgment and trust.
Investor conviction in a “next big wealth-tech platform”
For lead investor Bertelsmann India Investments, the bet is as much on financial inclusion as it is on a scalable technology business.
“Less than 15% of Indian households have any exposure to the Indian equities market, either directly or indirectly. As India marches on its way to being a developed country, we believe this number will move closer to 60% and catch up with developed markets,” said Rohit Sood, Partner at Bertelsmann India Investments.
“Wealthy will play a critical role in this mission as it provides cutting edge technology, as well as access to multiple products to MFD’s all over the country. We are excited to partner with Aditya and Prashant on this journey of financial inclusion and creation of the next big wealth-tech platform in the country,” Sood added.
BII, founded in 2012, backs early-growth companies from Series A to C and manages around USD 1 billion in assets, with a portfolio that includes companies such as Shiprocket, Eruditus, Licious, Nat Habit, LetsTransport and Orange Health Labs.
With fresh capital in the bank, Wealthy.in is now focused on three clear goals:
- Onboarding 50,000 distributors onto its platform, significantly expanding its current network of over 6,000.
- Deeper penetration into Tier-2 and Tier-3 geographies, where independent advisors and first-time investors are emerging rapidly.
- Scaling AUM to ₹1 lakh crore, while continuing to refine its AI tools and product stack for both investments and protection.
As India’s investing landscape broadens, Wealthy is placing its bet on the people at the frontlines of retail investing, mutual fund distributors and emerging wealth professionals and arming them with technology that promises to make advice more scalable, personalised and accessible for millions of households.
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