CRED to acquire mutual fund startup Kuvera in wealth management push

Indian fintech startup CRED has reached an agreement to buy mutual fund and stock investment platform Kuvera as part of an expansion into wealth management. The $6.4 billion Bengaluru-headquartered startup said it was attracted by Kuvera’s experienced team and expertise in enabling customers to invest directly in mutual funds and stocks with advisory and tracking tools. Kuvera, which manages assets of over $1.4 billion for its 300,000 strong user base, has emerged as a platform-of-choice for many of India’s affluent investors.

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