Wealthtech startup ZFunds has raised Rs 25 crore ($3 million) in a new round led by Elevation Capital. PB Fintech group chief executive officer Yashish Dahiya also participated in the round.

According to ZFunds, the funding will be used to ramp up its distribution network and strengthen its technical capabilities.

Founded in 2019 by Manish Kothari and Vidhi Tuteja, ZFunds tracks the performance of assets, suggests new products to their clients, and also helps them when they need to redeem the funds.

The platform also provides these agents with in-depth research insights which can help these distributors improve their understanding of the financial markets.

The Gurugram-based company claims to serve around 60,000 customers through more than 10,000 agents.