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Wealth management platform Dezerv on Tuesday announced that it has raised $32 million in a funding round led by Premji Invest. 

This round also saw participation from existing investors Matrix Partners India (aka Z47), Accel and Elevation Capital.

"India's wealth creators are set to add nearly $1.2 trillion over the next five years, with their wealth growing at a 14 per cent CAGR," Sandeep Jethwani, Co-Founder, Dezerv, said in a statement.

"Building trust and delivering top-tier service requires significant capital for client asset security, regulatory compliance, and good governance. We are grateful for the substantial support from Premji Invest and our existing partners," he added.

The company said that it plans to invest fresh capital into crafting new investment strategies, boosting its technology platform to deliver superior client experience, and hiring investment specialists for its next growth phase.

Saravanan Nattanmai, Partner, Premji Invest said that Dezerv's vision to "revolutionise wealth management for India’s emerging wealth creators aligns perfectly with our investment ethos.”

“They have built a strong product roadmap across various investment solutions, positioning themselves as the most preferred, tech-led, open-architecture wealth management platform," he added.

In addition, Vikram Vaidyanathan, MD, Matrix Partners India said that Dezerv’s digital-first proposition, coupled with a portfolio approach that is the right mix of risk-reward-tax, has catapulted them to be a market leader in a short span of time.