Investment platform Elever, specializing in wealth management technology, secures $1.1 million in funding; aims to manage assets under management (AUM) worth Rs 1,000 crore within two years.

In a significant development, Bengaluru-based Elever, a SEBI-registered Portfolio Management Services (PMS) firm, has raised $1.1 million in a pre-series A funding round. The funding round saw participation from CXOs of global companies, Brand Capital (the strategic investment arm of The Times of India Group), existing investors, and promoters.

Elever, founded in 2020 by industry veterans Anshul Sharan, Karan Aggarwal, Ram Subramaniam, and Santosh R, aims to leverage rule-based investing and machine learning to drive significant and sustainable alpha generation. The firm's focus is on providing monthly income and capital protection, targeting retirees and conservative investors.

The firm's flagship product, Factorcapro PMS, was launched in July this year and aims to make institutional-grade, factor-based investing accessible to individuals & family offices - both in India and abroad (NRIs/FPIs). The company plans to use the raised capital to scale its PMS business, strengthen brand presence, and deepen investor engagement.

The funding round also saw the participation of Srini Vudayagiri, President & Head of Brand Capital. Speaking about the investment, Vudayagiri stated, "Elever is a frontrunner in the evolution of wealth-tech and their focus on data, discipline, and disruption aligns well with Brand Capital's belief in backing scalable, transformative fintech companies."

Anshul Sharan, Co-founder and CEO of Elever, stated that the latest funding round is strategic support to build long-term credibility and scale for the firm. The company aims to achieve Rs 1,000 crore in Assets Under Management (AUM) within the next two years.

The wealth management market in India is projected to grow from $1.1 trillion in FY24 to $2.3 trillion by FY29, with an unmet demand of $0.4 trillion. PMS AUM in India has nearly tripled since FY17, reaching around $445-450 billion by March 2025. Elever's focus on providing stable returns and capital protection positions it well to capitalize on this growing market.

The previous financing round of Elever included the participation of new institutional investors that had not been involved in earlier rounds, but specific names of these institutions have not been publicly disclosed. The company plans to raise a Series-A round within the next 12 months to further accelerate product innovation, distribution, and team expansion.

With this latest round, Elever's total funding to date is now $5.1 million. Brand Capital's investment in Elever is to support their next phase of growth. The company's focus on data-driven, rule-based investing and its commitment to serving the needs of retirees and conservative investors make it an attractive proposition for investors.

As Elever continues to grow and scale, it is poised to make a significant impact on the wealth management landscape in India and beyond. The company's focus on providing stable returns and capital protection, combined with its innovative approach to investing, makes it an exciting player to watch in the coming years.

Investment platform Elever, specializing in wealth management technology, secures $1.1 million in funding; aims to manage assets under management (AUM) worth Rs 1,000 crore within two years.