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MobiKwik to enter wealth management with Clearfunds acquisition

Upasana Taku, Co-Founder and Director, MobiKwik, said, “This acquisition will help us get a head start in the wealth management domain. Clearfunds has done exceptionally well in a short span of time and has an edge over its competitors, owing to its superior technology knowhow and advanced data analytics. MobiKwik users will now be able to start their investment journey with as little as Rs 100. 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.” Following the acquisition, the founder and CEO of Mumbai-based Clearfunds, Kunal Bajaj will lead MobiKwik’s wealth management business.