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ZFunds, a Gurugram-based national distributor focusing on B30 cities, has raised Rs.25 crore in seed funding led by Elevation Capital with participation from Yashish Dahiya, Co-founder & Group CEO, Policybazaar Group.
Launched in 2019 by Manish Kothari and Vidhi Tuteja, ZFunds aims to enhance mutual fund investing experience by empowering distributors with the right technology and tools.
Manish Kothari, Co-Founder & CEO, ZFunds said, "Mutual fund distribution and financial advisory is no longer a one-person job. Intermediaries must quickly adapt to four key facets of this business: personalized advice and support, technology, regulatory compliance, and product research. Today's customers are well-informed and actively seek these elements from their mutual fund distributors. As their savings grow and become more substantial, their demand for these services will only increase."
Kshitij Jayakrishnan, Vice President, Elevation Capital, said, “ZFunds combines Manish Kothari’s extensive wealth management experience with Vidhi Tuteja’s exceptional product and technology leadership to create a platform that empowers mutual fund distributors with innovative tools, training, and support. By leveraging technology to streamline processes and enhance distributor success, the team is setting a new standard in the industry - and this excited us to partner with them. They’ve demonstrated remarkable execution and efficiency, positioning ZFunds as a transformative player in India’s financial product distribution ecosystem.”
Yashish Dahiya, Co-founder & Group CEO, Policybazaar Group added, “I have worked closely with Manish and Vidhi. They are reliable people, building a trustworthy platform for both distributors and customers. I see their passion for serving customers, and I believe it will drive them to build a long-term, profitable business—the best in this space.”
The recent capital infusion will be strategically allocated to further enhance technical capabilities, expand its training facilities and extend its distribution network.