Waterfield Advisors Secures INR 123 Crore in Funding Led by Jungle Ventures Jungle Ventures is leading this funding round with an investment of INR 100 crore. The remaining funds are being infused by co-founder and CEO Soumya Rajan, alongside individual investors such as Bharat Dhirajlal Shah, Vijay Singh, Bandi Vamsikrishna, Corel Traders, Parthasaradhi Reddy, Kekoo Colah, and Smita D Parekh.
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Waterfield Advisors, a wealth management platform, is set to raise INR 123 crore (approximately $14.6 million) in a fresh funding round spearheaded by Jungle Ventures. This information comes from a regulatory filing accessed from the Registrar of Companies. The company's board has sanctioned a special resolution to issue 10,92,362 preference shares at an issue price of INR 1,126 each, cumulatively amounting to INR 123 crore ($14.6 million).
Jungle Ventures is leading this funding round with an investment of INR 100 crore. The remaining funds are being infused by co-founder and CEO Soumya Rajan, alongside individual investors such as Bharat Dhirajlal Shah, Vijay Singh, Bandi Vamsikrishna, Corel Traders, Parthasaradhi Reddy, Kekoo Colah, and Smita D Parekh.
The capital raised is earmarked for various strategic initiatives, including growth acceleration, expansion plans, marketing efforts, and general corporate purposes, as outlined by the company's board.
Established in 2011 by Soumya Rajan, Waterfield Advisors operates as a fee-based multi-family office and wealth advisory firm, offering impartial financial, investment, and succession planning services. To date, the firm has secured over $25 million in funding, including $6 million from family offices and ultra-high-net-worth individuals. As per data from TheKredible, with this latest investment, Jungle Ventures will emerge as the largest external stakeholder, holding a 13.83 per cent stake. Co-founders Soumya Rajan and Sanjay Teli will collectively retain a 40.07 per cent share in the company.
Financially, Waterfield Advisors has demonstrated robust performance, recording a 33.2 per cent year-on-year (YoY) increase in revenue, reaching INR 45.7 crore for the fiscal year ending March 2024. Additionally, the firm has successfully reduced its losses by 9.5 per cent, bringing them down to INR 28.6 crore in FY24.
