Veriqus Group, an Indian wealth and asset management firm, raised about ₹387 crore (about $40m) in a funding round led by Norwest Venture Partners, according to reports around 21 July 2026. The reports did not name other investors or give a valuation.
The sources do not label the round as a Series B; Inc42 called it a funding round and said the company was founded in 2026.
“Veriqus intends to build a strong presence across Tier II and other high-growth cities”Ashish Gumashta, co-founder, Veriqus
What Veriqus does
Veriqus offers wealth management, asset management, business advisory and lending on one platform. Its clients are high-net-worth individuals, family offices, entrepreneurs and institutions.
A technology and AI-based platform covers advisory, portfolio analysis, risk oversight, client reporting and decision support. Inc42 said the firm follows an open-architecture model, so clients can choose products beyond those it makes itself. Its asset management arm uses real-economy insights and fundamental research, and its business advisory and lending units provide capital for expansion, acquisitions and liquidity.
The founders
Ashish Gumashta is co-founder and the former chairman and chief executive of Julius Baer India. Roshi Jain is a former senior fund manager at HDFC Asset Management and will lead the asset management arm. Inc42 noted that as of November 2025 she had managed more than ₹1.35 lakh crore across three HDFC funds.
Assets under management, headcount and the company's headquarters were not stated in either report.
Plans
Gumashta said Veriqus intends to build a strong presence across Tier II and other high-growth cities. The firm also plans to expand its platform and advisory services.
Nikhil Kookada, a principal at Norwest, said the next generation of wealth market leaders will combine deep advisory expertise with technology, according to Private Banker International. The company did not give a breakdown of how the ₹387 crore will be spent.
The founders in their own words
Gumashta, who has more than three decades of experience in wealth management and helped establish DSP Merrill Lynch's wealth business in India, said India is in the middle of the largest wealth-creation cycle in its history, according to Cafemutual. Jain, who managed more than ₹1.35 lakh crore across three flagship HDFC funds including the HDFC Flexi Cap Fund, said enduring wealth is built through discipline and prudent risk taking.
Jain said Veriqus's asset management philosophy combines rigorous fundamental research with a long-term investment approach, and that the company was delighted to have Norwest back it in an endeavour to create an institutional-grade investment platform. Fintech News Singapore described Norwest as returning to back the company.
Kookada of Norwest said India's wealth management industry is at an inflection point. DealStreetAsia, whose full article is behind a registration wall, headlined the deal as a $40m round led by Norwest in an Indian wealthtech platform.
What is not yet known
The reports left several basic questions open. They did not state how many people the firm employs, what assets it manages, which regulatory licences it holds or when its products launch. They did not name the other investors in the round or say how the ₹387 crore will be divided between the four businesses. The firm's plan to build an institutional-grade investment platform with deep research, risk management and technology is, for now, a statement of intent.