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Kunal Shah's CRED Acquires Wealth Management Platform Kuvera menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
Indian fintech startup CRED has reached an agreement to buy mutual fund and stock investment platform Kuvera as part of an expansion into wealth management. The $6.4 billion Bengaluru-headquartered startup said it was attracted by Kuvera’s experienced team and expertise in enabling customers to invest directly in mutual funds and stocks with advisory and tracking tools. Kuvera, which manages assets of over $1.4 billion for its 300,000 strong user base, has emerged as a platform-of-choice for many of India’s affluent investors. ....
The development marks the entry of Cred into the mutual funds market, placing it in competition with industry leaders such as Zerodha, ETMoney and Groww. ....
The latest deal would allow CRED to offer investment product like direct mutual funds, FDs, SIPs, and digital gold to its user base besides financial planning tools. The company has also been looking to expand its new insurance product under fintech arm DASPL. ....