Wealthtech startup Veriqus Group has raised ₹387 crore (approximately $40.1 million) in a funding round led by global venture capital firm Norwest, the company announced. Founded in 2026, Veriqus aims to develop an integrated wealth and asset management platform centered on technology and artificial intelligence. The funding round was confirmed this week and marks Norwest's second investment announcement on the same day.
Veriqus was founded by Ashish Gumashta, former Julius Baer India chairman and CEO, and Roshi Jain, a senior fund manager from HDFC AMC. The startup targets high-net-worth individuals, family offices, entrepreneurs, and institutions, offering wealth management, asset management, business advisory, and lending services on a single platform. Gumashta brings over 30 years of experience in wealth management, while Jain managed assets exceeding ₹1.35 lakh crore across multiple HDFC funds as of November 2025. Norwest also led a separate $40 million funding round in Hyderabad-based aerospace firm Raghu Vamsi Aerospace Group on the same day, according to inc42.com.
The infusion of capital will enable Veriqus to build its platform from the ground up with AI capabilities designed to enhance portfolio analysis, risk monitoring, client reporting, and investment decision-making. The startup plans to expand its services into Tier-II and other fast-growing cities in India. Veriqus’s approach aligns with growing trends in wealthtech where AI integration is becoming critical for personalized and efficient asset management. Norwest’s investment underscores increasing VC interest in fintech startups focusing on AI-driven wealth management solutions.
Veriqus’s founders bring deep industry expertise, with Gumashta having helped establish DSP Merrill Lynch’s wealth management business in India and Jain leading major HDFC funds. The company’s next steps include platform development and market expansion, leveraging the ₹387 crore funding to build a comprehensive AI-led wealth management ecosystem, as detailed by inc42.com.