PrimeInvestor Financial Research, a company offering Portfolio Management Services (PMS) has raised ₹19.5 crore ($2 million) in its first external funding round from Rainmatter Capital, the investment arm of Zerodha.
The capital will be used to scale PrimeInvestor’s PMS business, strengthen its research capabilities, and broaden its product offering to serve a wider set of Indian investors.
PrimeInvestor was founded in 2020 with the goal of bringing institutional-grade research and unbiased investment advice to Indian retail investors. Over the last five years, the firm has built a base of approximately 63,000 registered users and has reviewed over 12,000 portfolios aggregating more than ₹25,000 crore. It offers PMS to investors with a minimum investment of ₹50 lakh.
“We are delighted to start this new chapter in the journey of our business. This support from Rainmatter inspires us to create an elite WealthTech business that can significantly broaden the scope of portfolio management services in India,” said Srikanth Meenakshi, Co-founder, PrimeInvestor.
“We are happy to support PrimeInvestor as they start their new journey to help Indians do better with their money,” said Bhuvanesh R, VP, Business Analysis at Zerodha.