Sanctum Wealth, a Mumbai-based wealth management firm, revealed on Monday that it had raised Rs 78 crore from The Xander Group’s financial services unit in Singapore.
According to Sanctum, the monies will be used to expand its client base and strengthen its operational platform.
Sanctum was created in 2016 following the acquisition of the Royal Bank of Scotland’s Indian private banking division. It offers high-net-worth individuals in India wealth management services such as estate planning, real estate, and private market solutions, among other things.
“Our partnership with The Xander Group, with whom we share our core values and see many synergies, should allow us to accelerate our growth and further strengthen our platform. The Indian wealth management sector represents a huge structural opportunity, and we look forward to working with Xander and our existing investors.” said Shiv Gupta, CEO of Sanctum.”