Mumbai-based financial services firm Veriqus Group has raised ₹387 crore (around $40 million) in a funding round led by Norwest Venture Partners, marking a significant step in its plans to build an integrated financial services platform for affluent investors and businesses.

The round also saw participation from family offices and several ultra-high-net-worth individuals. Veriqus announced the fundraise alongside the launch of its platform, which brings together wealth management, asset management, business advisory and lending services under one ecosystem.

A Unified Platform for Wealth Creation

The newly launched platform is designed to cater to high-net-worth individuals (HNIs), family offices, entrepreneurs and institutional investors. By combining multiple financial services, Veriqus aims to provide clients with a more integrated approach to managing wealth, investments and business-related financial requirements.

The company plans to offer investment opportunities across public equities, private equity, fixed income, alternative assets and real estate through an open-architecture model. These offerings will be delivered through Veriqus’ own teams as well as external partners.

Leadership With Strong Financial Experience

Veriqus Group is led by co-founders Ashish Gumashta and Roshi Jain, who bring extensive experience from India’s wealth and asset management industry.

Gumashta, who previously served as chairman and CEO of Julius Baer India, will lead the company’s wealth management business. Jain, a former senior fund manager at HDFC Asset Management, will head the asset management division.

Their experience is expected to play a key role as Veriqus develops its institutional-grade financial services offering.

AI and Technology at the Core

Technology is another major focus of Veriqus’ wealth management business. The company is developing an AI-enabled platform aimed at improving portfolio analytics, risk monitoring, client reporting and investment decision-making.

By combining technology with personalised financial advice, Veriqus aims to make sophisticated wealth management solutions more accessible while improving the efficiency of its services.

Expanding Beyond Major Metros

The company also plans to expand its presence beyond India’s largest metropolitan cities. Veriqus intends to establish operations in Tier-II cities and other rapidly growing markets, targeting entrepreneurs, business owners and multi-generational families.

Its business advisory and lending divisions will provide strategic capital solutions for areas such as business expansion, acquisitions and liquidity requirements.

Building a Long-Term Financial Ecosystem

With fresh capital from Norwest Venture Partners and other investors, Veriqus Group is positioning itself to build a comprehensive financial ecosystem combining investment expertise, technology and advisory capabilities.

The company’s focus on institutional-quality advice and diversified investment opportunities could help bridge the gap between sophisticated financial solutions and investors in emerging Indian markets.

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