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IPO-bound investment tech unicorn Groww has signed a definitive agreement to acquire wealthtech startup Fisdom in an all-cash deal, sources told Inc42.
The deal, which values Fisdom at about $150 Mn, is subject to regulatory approval.
With the acquisition, Groww is looking to expand its offerings in the wealth management space.
“The move will bolster Groww’s capabilities and expand its offerings in the wealth management sector. With Fisdom’s expertise and established partnerships with 15 national and regional banks, including Punjab National Bank and Indian Bank, Groww will be able to enhance its offerings and expand its customer base,” one of the sources said.
Groww declined to comment on the development, while Fisdom was not available for immediate comment.
The development comes more than two months after it was reported that Fisdom would be valued in a range of $140 Mn to $160 Mn. Back then, the two parties were in initial stages of discussion and Groww was said to be exploring other acquisitions as well.
The post Groww To Acquire Wealthtech Startup Fisdom appeared first on Inc42 Media.
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