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MobiKwik acquires wealth management start-up Clearfunds

"MobiKwik users will now be able to start their investing journey with as little as Rs. 100," Upasana Taku, Co-Founder and Director, MobiKwik, said in a statement. MobiKwik said its 107 million plus customers will soon be able to start saving in mutual funds seamlessly from their MobiKwik app in just a few clicks. "This is the first-ever acquisition by MobiKwik as we look to build out our full-stack fintech platform and deliver more financial products to our 107 million plus customer base. We will continue to look at strategic investments or acquisitions that can add value to our business," Taku said. Following the acquisition, Clearfunds Founder and CEO Kunal Bajaj will lead MobiKwik's wealth management business.