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MobiKwik Acquires Wealth Management Startup Clearfunds

"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. Founded in 2016, Clearfunds is a direct mutual fund investment platform that uses powerful data analytics and automated processes to deliver the best possible investment experience at the lowest possible cost. The platform allows clients access to over 3,000 direct mutual fund schemes from 36 mutual fund companies.