Dezerv was founded in April 2021 by former IIFL Wealth senior Managing Partners Jethwani, Vaibhav Porwal and Sahil Contractor. Since then, the startup has attracted high-net-worth clients, including professionals from Amazon, Zomato, Swiggy, Google, BCG and McKinsey. It focuses on providing wealth management services and curated investment products, aiming to make top-tier financial advice accessible to India's working professionals and affluent investors.
Dezerv, a wealth-tech startup based in Mumbai, has completed an Employee Stock Ownership Plan (ESOP) buyback worth Rs 46 crore, or about $5.3 million. The buyback gives both current and former employees a chance to sell vested shares, but the startup said many chose to stay invested. It has not shared how many employees took part in the program. Co-founder Sandeep Jethwani said the move is part of the startup's efforts to keep employees motivated and aligned with the firm's long-term goals." We remain committed to delivering the highest quality investment experience to India's wealth creators. A crucial part of ensuring this is the motivation and alignment of the team with our values.
This ESOP buyback is one among many such aspects of our culture," Jethwani said. In December, Dezerv reported crossing Rs 10,000 crore in assets under management (AUM) and aims to achieve Rs 25,000 crore by the end of this year. It now employs about 300 people across offices in Mumbai, Delhi, Bengaluru, Hyderabad and Pune. Last year, the startup reportedly raised around Rs 265 crore in a Series B funding round led by Premji Invest, with participation from existing investors Elevation Capital, Z47 and Accel.