Veriqus Group at a Glance
What Is Veriqus Group?
Veriqus is a wealthtech startup founded by Ashish Gumashta, former Chairman and CEO of Julius Baer India, and Roshi Jain, a former senior fund manager at HDFC Asset Management who previously managed over ₹1.35 lakh crore across HDFC's flagship funds including the HDFC Flexi Cap Fund. The company serves high-net-worth individuals (HNIs), family offices, entrepreneurs, and institutions with an integrated platform spanning wealth management, asset management, business advisory, and lending services.
Business Model
Veriqus operates across multiple revenue lines within wealth services: wealth management (advisory fees on managing client portfolios), asset management (fees tied to assets under management across public equity, private equity, fixed income, alternatives, and real estate), business advisory, and lending services offering strategic capital solutions for growth, acquisitions, and liquidity needs. This multi-line model is designed to capture more of a wealthy client's total financial relationship than a single-service wealth manager typically could.
Funding History
| Round | Amount | Date | Lead Investor |
|---|---|---|---|
| Seed/Series A (undisclosed stage) | ₹387 crore (~$40M) | 2026 | Norwest Venture Partners |
A round of this size for a company founded the same year is unusually large — reflecting investor confidence built substantially on the founders' individual track records (Gumashta's decades in wealth management including helping establish DSP Merrill Lynch's wealth business, and Jain's fund management history at HDFC AMC) rather than years of company operating history.
Why AI-Led Wealth Management Is Attracting Capital
India's wealth management market has grown significantly as the country's high-net-worth population expands, particularly outside the largest metro cities. Veriqus specifically plans to expand into Tier-II and other fast-growing cities — a strategic bet that professional wealth management demand is underserved outside India's traditional wealth hubs, and that AI-enabled tools (for portfolio analysis, risk monitoring, and client reporting) can help a newer platform compete with legacy wealth management relationships built over decades.
Market Position & Competition
Veriqus enters a wealth management market that includes established private banks, boutique wealth advisories, and a growing set of wealthtech startups — Entrackr data cited in coverage of this round noted Indian wealthtech startups raised over $634 million across 51 deals in 2024-2025 alone, with peers like AssetPlus, Wint Wealth, Neo Group, and Bachatt also raising capital in the same period. Veriqus differentiates through its combination of high-profile founder credibility and a broader multi-service platform (wealth plus asset management plus advisory plus lending) rather than a narrower single-product offering.
What the Funding Will Support
Capital will support expanding Veriqus's network of wealth creators/advisors, strengthening its AI-enabled wealth management platform, and deepening presence across Tier-II and other high-growth Indian cities beyond the traditional metro wealth management hubs.
Frequently Asked Questions
Veriqus is a wealthtech startup offering integrated wealth management, asset management, business advisory, and lending services to high-net-worth individuals, family offices, and institutions.
Veriqus was founded by Ashish Gumashta, former Chairman and CEO of Julius Baer India, and Roshi Jain, a former senior fund manager at HDFC Asset Management Company.
₹387 crore (approximately $40 million) in a funding round led by Norwest Venture Partners.
According to data cited by Entrackr, Indian wealthtech startups raised over $634 million across 51 deals involving 39 startups during 2024 and 2025 combined.
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