Elever raises USD 1.1 Million in Pre-Series A Round; Targets ₹1,000 Cr AUM in 2 Years

Mumbai, Aug 12

Elever, a SEBI-registered Portfolio Management Services (PMS) firm, has raised USD 1.1 million in a pre-series A funding round to fuel its next phase of growth.

Elever’s quantitative PMS strategies leverage rule-based and factor investing to deliver superior, risk-adjusted returns. By combining data-driven insights with a systematic investment process, the platform aims to bring institutional-grade portfolio management to a wider base of individual investors and family offices.

The round saw participation from CXOs of global companies, Brand Capital (the strategic investment arm of The Times of India Group), along with existing investors and promoters. This latest round brings Elever’s total funding to USD 4 million to date.

The capital will be deployed to scale Elever’s PMS business, strengthen its brand presence, and deepen investor engagement. The partnership with Brand Capital is expected to play a pivotal role in enhancing Elever’s visibility and building trust among India’s new-age affluent, including HNIs, founders, entrepreneurs and next-generation investors, through its rule-based, tech-driven investment strategies.

“We see Elever as a frontrunner in the evolution of wealth-tech, leveraging automation and factor investing to deliver consistent, risk-adjusted outcomes. Elever’s technology-led, rule-based approach to portfolio management reflects the future of investing in India. Their focus on data, discipline, and disruption aligns well with our belief in backing scalable, transformative fintech companies. We at Brand Capital are delighted to support their next phase of growth through our investment,” said Srini Vudayagiri – President & Head of Brand Capital.

India’s wealth management market is projected to grow from US$1.1 trillion in FY24 to US$2.3 trillion by FY29, with an unmet demand of US$0.4 trillion, according to Deloitte’s ‘Financial Wealth Management Services in India’ report. In parallel, PMS AUM in India has nearly tripled since FY17, reaching around US$445–450 billion by March 2025, reflecting strong investor traction towards disciplined, factor-based and tech-enabled portfolio management solutions like Elever’s.

Anshul Sharan, Co-founder and CEO of Elever, added: “This funding round comes at a pivotal time as we double down on our PMS offering. Backing from Brand Capital and leading CXOs validates our vision to make institutional-grade, factor-based investing accessible to individuals & family offices — both in India and abroad (NRIs/FPIs). This is not just capital — it’s strategic support to build long-term credibility and scale.”

Anshul brings deep expertise in strategy, product, and risk management. Previously, he served as Head of Strategy at CreditAccess Grameen, where he was instrumental in leading the company’s IPO in 2018 and later became its Chief Risk Officer.

In July this year, Elever launched Factorcapro PMS, India’s first PMS strategy designed to provide monthly income and capital protection, primarily targeting retirees & conservative investors. The offering has already seen strong demand from both investors and distributors.

Elever is now targeting to cross ₹1,000 Cr in AUM within the next two years, and plans to raise a Series-A round within the next 12 months to further accelerate product innovation, distribution, and team expansion.

EoM.