Wealth-tech platform PrimeInvestor has raised ₹19.5 crore (around $2 million) in its first external funding round, led by Rainmatter, the investment arm of Zerodha.
The company clarified that Rainmatter’s participation is a purely financial investment, with no strategic involvement, ensuring that PrimeInvestor continues to operate independently.
Founded in 2020 by the team behind FundsIndia, PrimeInvestor initially focused on research and curated portfolio insights. However, the firm identified a gap between advisory and execution, prompting it to expand into portfolio management.
To address this, the startup has launched a discretionary Portfolio Management Services (PMS) offering for investors with a minimum investment of ₹50 lakh, aiming to provide end-to-end wealth solutions.
Co-founders Srikanth Meenakshi and Vidya Bala said the platform combines mutual funds and equities, with a focus on asset allocation and risk management.
PrimeInvestor follows a fee only model, charging 0.6% to 1.2% annually without performance fees, aligning revenue with assets under management. The use of direct mutual fund plans helps reduce costs for investors.
Since launching its PMS offering in January, the company has onboarded around 100 customers and currently manages about ₹62 crore in assets.
The fresh funds will be used to scale PMS operations, expand research capabilities, and launch new offerings, including solutions tailored for retirees.
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