ZFunds, a Gurugram-based Wealthtech startup has raised ₹25 crore in its seed funding round led by Elevation Capital, with participation from Yashish Dahiya, Co-founder & Group CEO, PolicyBazaar Group.
The funds will be used to expand its distribution network further while enhancing its technological infrastructure. This investment will enable the company to empower 10 lakh financial distributors and help 5 crore Indian households achieve financial independence.
Manish Kothari, Co-founder and CEO of ZFunds, said, “Mutual fund distribution and financial advisory require a multifaceted approach involving personalised advice, advanced technology, regulatory adherence, and comprehensive product research. As savings grow, customers increasingly demand these services, and ZFunds is committed to addressing these evolving needs.”
Kshitij Jayakrishnan, Vice President at Elevation Capital, shared, “ZFunds brings together Manish’s deep expertise in wealth management and Vidhi’s outstanding leadership in product and technology. By streamlining processes and providing innovative tools and training for distributors, the platform is setting a benchmark in mutual fund distribution. We’re thrilled to support their vision to revolutionise India’s financial product ecosystem.”
Founded in 2019 by Manish Kothari and Vidhi Tuteja, ZFunds is positioning itself as a bridge between mutual fund distributors and middle-class investors through its digital platforms. ZFunds provides an intuitive platform offering real-time asset tracking, personalised product recommendations, and seamless fund redemption.
The company claims to be one of the first platforms to offer daily Systematic Investment Plans (SIPs).
Currently, ZFunds operates in two languages, English and Hindi, and is planning to expand its offerings by integrating five additional Indian languages into its applications over the next two years.
ZFunds claims to serve over 60,000 customers through a network of 10,000 micro-entrepreneurs across 4,701 pin codes in India. ZFunds operates two separate applications – one for distributors and another for investors.
