Norwest Leads ₹387 Crore Funding for Veriqus Group, the New Integrated Wealth Platform of Ashish Gumashta and Roshi Jain

Norwest Venture Partners has officially taken the mantle as lead investor in a fresh ₹387 crore financing round for Veriqus Group. The capital infusion marks a decisive step for the fledgling platform that aims to stitch together wealth management, asset management, business advisory and lending under one digital roof.

Veriqus Group was born out of the partnership between Ashish Gumashta – who spent three decades shaping wealth‑management outfits, most recently steering Julius Baer India – and Roshi Jain, the former head of HDFC Mutual Fund’s flagship schemes that once oversaw assets north of ₹1.35 lakh crore. Gumashta will continue to drive the wealth‑management and advisory side, while Jain will helm the asset‑management arm.

“India’s affluent families today crave simplicity, not a jumble of advisors. They want a single trusted partner who can see their finances, business and legacy as one coherent picture,” Gumashta said at the announcement, his voice tinged with the familiar gravitas of a seasoned banker.

Norwest’s Nikhil Kookada added that the firm is backing the duo’s “complementary expertise” to build a technology‑enabled, integrated platform tailored to the evolving Indian wealth ecosystem. The investors see a clear opportunity to serve high‑net‑worth individuals, family offices and institutions that are increasingly looking beyond fragmented services.

The company, recently rebranded from Veriqus Partners to Veriqus Group, plans to push its footprint beyond the traditional metros. Tier‑II cities and other high‑growth hubs are on the radar, with first‑generation entrepreneurs and business families earmarked as the next wave of clients.

Industry chatter earlier this year hinted at the funding round, mentioning talks with a leading private‑equity house, an Indian business family and a senior corporate executive. While the cap table was still in flux back then, today’s announcement cements Norwest’s position as the anchor investor.

Veriqus’ ambitions echo a broader trend in India’s fintech space: consolidating fragmented wealth services into seamless, tech‑driven experiences. With Norwest’s backing and the founders’ deep‑rooted networks, the platform could very well become a go‑to destination for the country’s wealth creators.