India-based wealth administration startup Dezerv has raised $21 million in a financing spherical led by Accel.

Because the Financial Instances reported Monday (Aug. 8), the corporate hopes to make use of the funding to strengthen its consumer expertise, launch new funding alternatives and increase its expertise pool.

Based in 2020, Dezerv is an invite-only monetary platform for working professionals in India, giving them a spot to obtain knowledgeable cash administration recommendation. The platform permits customers to begin investing at 50,000 rupees ($6,280).

“This fundraise is another step in the direction of our mission of delivering actual funding experience to India’s working professionals,” Co-founder Sandeep Jethwani mentioned within the report.

“The necessity for higher funding outcomes has by no means been felt as acutely as within the present risky setting. The overwhelming response in our early days coupled with this fundraise from three of India’s high enterprise capital funds additional strengthens our mission.”

Along with Accel, buyers on this spherical embody returning backers Whiteboard Capital, Elevation Capital (previously Saif Companions) and Matrix Companions India, in addition to GTM Ventures.

See additionally: Indian Agency CredAble Raises $9M to Develop Working Capital Financing Platform

In different current funding information from India, working capital answer supplier CredAble final week raised $9 million by way of an fairness infusion from Indian financial institution Axis Financial institution and CredAble’s current returning OAKS Asset Administration.

The corporate mentioned the brand new funding will likely be used to speed up its progress plans, to proceed serving to small companies meet their working capital and credit score objectives, and to proceed including to its rising checklist of alliances with enterprise clients and monetary establishments.

“This direct funding by Axis Financial institution and the continued help from current buyers validates CredAble’s journey to this point to assist India remedy its working capital woes,” CredAble Co-founder and CEO Nirav Choksi mentioned.