Veriqus raises Rs 387 crore in Norwest-led round to target India’s affluent investors

Founded by former Julius Baer India CEO Ashish Gumashta and ex-HDFC AMC fund manager Roshi Jain, Veriqus has raised about $40 million to build wealth-management offerings for HNIs, family offices and investors in high-growth Tier II cities.

— Source publishedTue, 28 Jul, 2026, 11:19 IST·First seen Tue, 28 Jul, 2026, 11:25 IST·Source YourStory

What happened

India wealthtech platform Veriqus raised Rs 387 crore ($40 million) in a Norwest-led round. Founded by former Julius Baer India CEO Ashish Gumashta and ex-HDFC

Key facts

  • Rs 387 crore
  • around $40 million
  • Rs 1.35 lakh crore
  • more than three decades
  • $15.5 billion

Why this matters

Veriqus is becoming a better-capitalized wealthtech partner or competitive watchlist candidate for financial-services firms seeking access to HNIs, family offices and Tier II investors.

What to watch

  • Named senior hires from private banks, brokerages, AMCs or family offices.
  • Launch of regulated advisory, PMS, AIF or alternative-investment product capabilities.
  • Disclosure of assets under advice/management, client count, net inflows or revenue milestones.
  • Expansion into Tier II cities and the mix of physical relationship-manager versus digital acquisition.
  • Partnerships with custodians, brokers, AMCs, tax firms, estate planners or global-investment platforms.
  • Evidence of fee-based advisory adoption versus commission-led product distribution.
  • A follow-on round or strategic investment signaling faster-than-expected customer acquisition.
  • Hire senior private-bankers, investment advisers and city-heads in priority Tier II wealth hubs.
  • Build or partner for portfolio reporting, goal planning, digital KYC, risk profiling and family-office workflow tools.
  • Secure distribution and diligence access for PMS, AIF, private credit, structured products and global-investment offerings.
  • Use founder networks to target entrepreneur-led liquidity events, promoter families and professional HNIs.
  • Invest in compliance, suitability controls, cybersecurity and SEBI-regulated advisory/distribution capabilities.