Centricity Raises $20 Million in Seed Round Led by Lightspeed

• Centricity, a Gurugram-based wealth management platform, secured $20 million in seed funding led by Lightspeed, valuing the company at $125 million.
• The funding round saw participation from Burman Family Office, Shantanu Agarwal, Paramark VC, and several family offices including MS Dhoni and NB Ventures.
• The funds will be used to enhance Centricity's tech stack, boost its sales team, and expand operations across India, including new financial offerings like insurance and stock broking.
• Founder Manu Awasthy highlighted the company's rapid growth, noting a valuation increase from $20 million to $125 million in just two years.
• Centricity's business model includes a B2C arm for ultra-high-net-worth individuals and a B2B2C arm to empower financial intermediaries in smaller cities.

Source: Moneycontrol