Mobile Wallet Mobikwik Makes its First Ever Acquisition
One of the most popular digital payments company in India Mobikwik has reportedly announced the acquisition of online wealth management platform called Clearfunds. With this move, the mobile wallet seems to foray into the country’s wealth management market.
The amount of the acquisition deal, however, has not been disclosed yet. Clearfunds is an online mutual fund investment platform based out of Mumbai. The digital payments major stated that it would be investing $15 million in the coming next years’ time to accelerate its wealth management business.
"MobiKwik users will now be able to start their investing journey with as little as Rs. 100," Upasana Taku, Co-Founder and Director, MobiKwik stated. "This is the first-ever acquisition by MobiKwik as we look to build out our full-stack f...