Waterfield Advisors Secures ₹123 Crore in Funding Led by Jungle Ventures
- ByStartupStory | February 20, 2025
Mumbai-based wealth management firm Waterfield Advisors has raised ₹123 crore ($14.6 million) in a Series A funding round led by Singapore-based Jungle Ventures. The financing, which includes contributions from co-founder and CEO Soumya Rajan and a group of prominent individual investors, positions Waterfield Advisors for its next phase of growth and expansion.
According to regulatory filings accessed from the Registrar of Companies, the firm’s board approved a special resolution to issue 1,092,362 preference shares at ₹1,126 per share, raising ₹123 crore. Jungle Ventures is the lead investor, committing ₹100 crore, while the remaining amount is being co-invested by Soumya Rajan and individual backers, including- Bharat Dhirajlal Shah, Vijay Singh, Bandi Vamsikrishna, Corel Traders, amongst others.
The company reportedly targets a total funding of ₹130 crore ($15.5 million) in this round. With this latest investment, Waterfield Advisors’ post-money valuation is estimated at ₹723 crore ($86 million), according to Entrackr. The funding round significantly alters the company’s equity structure, with Jungle Ventures emerging as the largest external stakeholder, holding a 13.83% stake.
Co-founders Soumya Rajan and Sanjay Teli will collectively control 40.07% of the company, ensuring that leadership remains firmly in the hands of its founding team.
Founded in 2011, Waterfield Advisors is a fee-based multi-family office and wealth advisory firm offering unbiased financial, investment, and succession planning services to ultra-high-net-worth individuals (UHNWIs) and family offices.
Over the years, the firm has raised mover$25 million in funding, including $6 million from UHNWIs and family offices. Its latest financial performance underscores strong revenue growth, with a 33.2% year-on-year increase, reaching ₹45.7 crore in FY24. Moreover, the company has made strides in improving profitability, reducing its losses by 9.5% to ₹28.6 crore.
As the board determines, the fresh capital will be deployed for growth, expansion, marketing, and general corporate purposes. Waterfield Advisors is focusing on enhancing its service offerings, strengthening its technology-driven investment advisory, and expanding its reach within the booming Indian wealth management sector.
Waterfield Advisors operates in an increasingly competitive wealthtech ecosystem. According to TheKredible, Indian wealth management startups—such as Neo, Dezerv, Centricity, Stable Money, Fisdom, Univest, InvestorAi, and Wealthy—have secured over $200 million across 13 deals since October 2023.
As Centricity and Stable Money reportedly seek additional funding and Smallcase prepares for a larger round, the competition in India’s digital wealth advisory space intensifies.
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