Partnership Announcement
On August 20, 2026, MIDASX, India’s first AI‑powered B2B2C multi‑asset wealth technology platform, entered into an exclusive strategic association with MF Utilities India. The partnership will make MIDASX’s integrated technology ecosystem available to all Mutual Fund Distributors (MFDs) across the country, enabling them to distribute mutual funds, international and Indian equities, corporate fixed deposits, loans against securities, unlisted securities, bonds, MLDs and other financial products.
Platform Reach and Capabilities
MIDASX currently works with more than 2,000 MFDs, serving over 7 lakh investors whose combined assets total more than ₹2.5 lakh crore. The platform operates in over 160 cities, covering Tier‑1, Tier‑2 and Tier‑3 markets. The AI‑led technology suite is designed to help distributors build scalable, multi‑asset wealth businesses and improve productivity and investor engagement.
Executive Comments
Aakash Bansal, CEO of MIDASX, stated that the next phase of India’s wealth creation will be driven by empowering trusted distributors and that the partnership with MF Utilities India is a key step toward making advanced wealth technology affordable and accessible to last‑mile MFDs. Ganesh Ram, MD & CEO of MF Utilities India, highlighted the growing role of the MFD community in expanding market participation and expressed confidence that the collaboration will combine AI technology with distribution capabilities for MF and SIF products.
Ecosystem Strengthening
MIDASX is also the exclusive strategic and technology partner of MACG, the Mutual Fund Distributor Association of Associations, which represents more than 50 mutual‑fund distributor associations nationwide. The combined partnerships with MF Utilities India and MACG reinforce MIDASX’s MFD‑focused ecosystem by linking distribution networks, industry bodies and technology.
Funding Update
To date, MIDASX has raised ₹35 crore from family offices and ultra‑high‑net‑worth individuals. The company is currently raising an additional ₹200 crore to accelerate its growth trajectory, expand its distributor base, and enhance its multi‑asset capabilities.
About the Companies
MIDASX offers an AI‑driven platform that enables MFDs and financial advisors to manage and distribute multiple financial products through a single digital interface, aiming to deepen investor engagement and scale businesses across India. MF Utilities India provides a transaction aggregation and technology platform for the mutual‑fund ecosystem, delivering a unified digital infrastructure for fund transactions, improving convenience, efficiency and connectivity for distributors, investors and asset‑management companies.