MobiKwik also announced its foray into wealth management in October this year with the acquisition of Clearfunds, a new-age wealth management platform based out of Mumbai. This is a huge opportunity for us as the market is very under-penetrated. We are confident that our wealth management products will revolutionise the way India invests. Bipin Preet Singh: "MobiKwik is in the process of launching its wealth management service on its app. We announced 100% acquisition of Clearfunds, a leading online wealth management platform based out of Mumbai, in October 2018. MobiKwik is committed to scaling up the wealth management business and will be investing $15 Mn (INR 110 Cr) over the next one year." Our objective of venturing into wealth management is to enable more and more Indians to invest and let their money work for them. We want to offer powerful wealth management products that are simple, easy to use, less time consuming, and can enable Indians to start small but start early. We believe this is the mantra for creating a huge pool of savings.
