CapitalFloat Acquires Pune Based Fintech Firm in $30 Million
Digital lending firm Capital Float has acquired Pune-based fintech firm Walnut (Thumbworks Technologies) in a deal amounting to USD 30 million (about Rs 208.6 crore).
Walnut offers a personal finance management mobile app that helps users to automatically track spends, bank and card balances, bill payments, and split expenses within a group. It has over seven million downloads on Google Play Store.
In July 2017, Walnut had launched 'Walnut Prime', a small-ticket, app-based credit line for its users. It recently crossed Rs 100 crore in loans to users.
"Their approach towards leveraging technology to solve financial concerns of the common individual was particularly impressive... Walnut Prime is a product of deep interest to us, and it will essentially become a new addition to our sta...