Elever, a portfolio management firm, has secured $1.1 million in a pre-Series A funding round led by Brand Capital, the strategic investment arm of The Times of India Group. The round also saw participation from CXOs of global companies, existing investors, and promoters, taking Elever’s total funding to $4 million to date.
Key Highlights
- Elever secures $1.1 million in a pre-Series A round led by Brand Capital and CXOs.
- Funds earmarked to scale Elever’s PMS business, strengthen its brand, and deepen investor engagement.
The Bengaluru-based company plans to use the funds to expand its Portfolio Management Services (PMS) business, enhance brand visibility, and deepen investor engagement. Founded in 2020 by Anshul Sharan, Karan Aggarwal, Ram Subramaniam, and Santosh R, Elever is a SEBI-registered investment advisor and PMS provider. Its hybrid robo-advisory model combines data-driven, rule-based, and factor investing strategies, focusing on goal-based investing for both retail clients and corporations.
Market research indicates that India’s wealth management sector is set to grow from $1.1 trillion in FY24 to $2.3 trillion by FY29, with an unmet demand worth $0.4 trillion.
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In July, Elever introduced Factorcapro PMS, a strategy designed to offer monthly income and capital protection, catering primarily to retirees and conservative investors. With this momentum, Elever aims to surpass Rs 1,000 crore in assets under management (AUM) within two years, while continuing to provide tailored investment solutions to meet sophisticated financial needs.
