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Thursday, July 18, 2024

Centricity expands its footprint into the South Market with a new office in Bengaluru

Bengaluru, 19th January 2024: Centricity, a Gurugram-based wealthtech startup, proudly announces the grand inauguration of its new office in Bengaluru, expanding its footprint into the south market. Strategically located on the bustling Church Street, it will cater to a diverse set of requirements in wealth management and financial product distribution across the region. Centricity has started hiring select talent across a range of capabilities and is welcoming new hires in Bengaluru.  Since Centricity started operations in April 2023, it has created a vast network of more than 1600 financial product distributors across 12 states and 15 cities, onboarding over 2000 clients.


Highlighting the strategic significance of the Bengaluru office, Anirudh Mahanot, Founding Team Member and Business Head (South & West India) at Centricity, expressed, “Bengaluru is a pivotal market for us, and this new office represents our commitment to innovation. With this new office we are aiming to reach more people and bridge the gap among Investors, Wealth Managers & Asset Managers. Our tie-up with IIT Madras research park is working on specialized modules to integrate elements of AI and ML to make this platform efficient.”


Founding Partners, Manu Awasthy (CEO) and Gaurav Tiwari, along with senior team members Vinayak Magotra, Arpita Hegde and Abhay Mishra, and Centricity team graced the event. The Bengaluru office will be led by Anirudh Mahanot and his dedicated team, including Attaur Khan (Branch Manager, Bangalore) and Shankar PA (Branch Manager, Bangalore).


Centricity’s “OneDigital” is India’s first tech-enabled multi-asset class, multi-product platform that enables MFDs to access a comprehensive digital financial product listing, execute transactions digitally and deliver multi-product and multi-advisor client portfolio reports seamlessly. It also equips MFDs with tools such as goal planning, a learning & development library, portfolio analytics and more. 


Centricity’s second platform, “INVICTUS,” caters to single-family offices, UHNI, and corporate treasuries with portfolios exceeding 100cr. INVICTUS serves as an insight’s engine, simplifying investment management processes and offering holistic reporting, investment reckoner, portfolio scanner, liquidity profile, and performance tracking.


Having also achieved ISO27001:2022 and RIA licence, Centricity has ambitious plans for the upcoming year, including expanding business development teams, adding tech talent, achieving ESG compliance. Initiatives such as setting up a support call centre, applying for broking licenses, conducting many more distributor partner roadshows, and offering mortgages for distributors are also in the pipeline.

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