SUMMARY
- Nivesh acquires Wealthzi for ₹9 Cr, aiming to expand investment options and strengthen its market position.
- CEO Anurag Garg sees acquisition boosting affluent and HNI reach, leveraging RIA license and tech capabilities.
- Expected synergies in operations and technology may drive profitability by reducing overlapping expenses.
Wealth-tech firm Nivesh has acquired digital wealth management firm Wealthzi for ₹9 crores (nearly $106k). Regarding this update, Nivesh said in a statement that the acquisition will enable it to offer its clients comprehensive investment and insurance-related options and will also help the company to bolster its position in the rapidly expanding market.
Nivesh founder & CEO Anurag Garg stated, “The Wealthzi acquisition enables expansion into both affluent and HNI segments. With their recently acquired RIA licence and our tech infrastructure, we’re perfectly positioned to emerge as a leading player in the industry.”
Anurag Garg and Sridhar Srinivasan-led Nivesh is a digital-first platform that was established in 2016. The firm claims that it uses AI to offer wealth management solutions. According to the business, it has served more than 60,000 customers in 6,000 different pin codes nationwide. IAN Fund, Windrose Capital, LetsVenture, and others are supporting it.
On the other hand, the 2020-founded digital wealth management firm Wealthzi which is led by PV Sahad and Pradeep Pillai manages assets worth more than ₹500 crore in bonds, gold, mutual funds, and other assets for high-net-worth individuals (HNIs), ultra-HNIs, and family offices. In order to provide its clientele with comprehensive advisory services, Wealthzi just obtained a Registered Investment Advisor (RIA) license from SEBI.
It is anticipated that the acquisition will result in substantial synergies in operations, research, and products. Furthermore, by removing overlapping expenses, especially in technology infrastructure, the agreement may increase the merged company’s profitability.
