[Funding alert] Wealth advisory firm Waterfield Advisors raises $6M in Series B round

Mumbai-based wealth advisory firm Waterfield Advisors will use the capital to expand teams, invest in technology, and reinforce the platform across listed as well as unlisted investments.

[Funding alert] Wealth advisory firm Waterfield Advisors raises $6M in Series B round

Thursday February 03, 2022,

2 min Read

Mumbai-based multi-family office and wealth advisory firm Waterfield Advisors on Thursday announced that it has closed a $6 million in Series B funding round, from marquee single-family offices, ultra-high net worth individuals, and existing investors.

In an official statement, the company said it will use the capital to accelerate its growth – including expanding teams across the organisation, investing in technology, and reinforcing the investment advisory platform across listed as well as unlisted investments.

The firm will use the corpus to build its international presence in Singapore, the UK, the US, and the Middle East to become the preferred wealth partner for global Indian clients. Waterfield Advisors will also double down on brand and community building. 

Soumya Rajan, Founder and CEO, Waterfield Advisors, said,

“Over the past 10 years, we have strived to be the standout financial advisory firm in India, deeply committed to ensuring a no conflict-of-interest approach in all our client dealings. India is at a very exciting stage in terms of wealth creation and we will see unprecedented growth in the number of wealthy individuals over the next few years, who need curated global services. Our fund raise is rightly timed to help us further build out our capabilities to scale our platform and serve clients holistically across geographies.”

Founded in 2011 by Soumya Rajan, Waterfield Advisors claims to be operating in the wealth advisory space with a differentiated model that enables clients to access services governed by merit and not conflict. The firm advises some of the largest business families of India with total assets under advisory of over $4 billion. 

As part of the raise, Waterfield Advisors is also expanding its board to better reflect the firm’s domestic and global aspirations. Four corporate leaders join the board.

The firm, which has six offices across India, is registered with SEBI as investment advisors and works with family-owned businesses, trusts and endowments, and single-family offices for their global investments and in non-investment related areas, including succession planning, family governance, and philanthropy.

In December 2019, The firm also secured $6 million in a Series A funding round, led by a consortium of investors, including New York-based Zephyr management LP, TVS Capital Fund, and Gaurav Dalmia of Dalmia group holdings.

Edited by Teja Lele