Zfunds

ZFunds is a Gurugram-based wealth technology firm founded in 2019 by Manish Kothari and Vidhi Tuteja, who previously worked together at PB Fintech. The company aims to make mutual fund investing accessible, particularly in India's smaller towns and rural areas. Kothari, the CEO, brings over 15 years of experience from wealth management firms like Citibank and IIFL, while Tuteja, the Chief Product Officer, has a background in engineering and product development at companies such as Zomato and Paisabazaar.

The company operates on a model that empowers a network of financial advisors and mutual fund distributors with technology to serve end investors. This approach targets a segment of the population that may require human guidance for financial decisions, bridging the gap for those who are not inclined towards do-it-yourself online platforms. ZFunds provides its network of over 10,000 distributors with a technology platform that includes tools for portfolio tracking, product recommendations, paperless client onboarding, and transaction execution. The company offers two main applications: one for distributors to manage their business and another for investors to track their portfolios.

ZFunds' product offerings for end clients include mutual funds from approximately 42 asset management companies, Systematic Investment Plans (SIPs) with minimum investments as low as Rs 100, fixed deposits, bonds, and loans against mutual funds. The platform facilitates transactions through an integration with the Bombay Stock Exchange (BSE), ensuring that client money is transferred directly to the respective asset management companies. The firm's revenue is generated from commissions paid by the fund houses on the assets managed through its platform, a portion of which is shared with its network of distributors. ZFunds does not charge a direct fee to the investors.

Since its inception, the company has raised a total of $3.15 million over two funding rounds. A significant seed round of approximately $3 million (INR 25 crore) was led by Elevation Capital in late 2024, with participation from notable angel investors. This capital is intended to expand the distribution network, enhance technological capabilities, and add multilingual support to its applications.

Keywords: wealthtech, mutual fund distribution, financial advisors, investment platform, India, fintech, asset management, SIP, Elevation Capital, Manish Kothari, Vidhi Tuteja, retail investing, financial inclusion, B2B2C, investment technology, digital wealth management, emerging markets, financial services, portfolio management, Gurugram