CashRich acquires WealthApp’s mutual fund distribution biz
March 16, 2021
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CashRich will now have a two-lakh-strong user base; company plans to expand into other financial products, increase distribution via partnerships
Wealth-tech firm CashRich has acquired WealthApp’s mutual fund distribution business in an all-cash deal for which it raised funding from three UK-based investors. The financial terms of the deal were not disclosed.
This deal is expected to strengthen CashRich’s position as a prominent investment app in India. Following the acquisition, CashRich’s user base will double to about two lakh, the company said in a statement.
“We are continuously improving our technology to help our users build and preserve their long-term wealth. The fintech ecosystem in India is thriving because of the collaborative efforts of several stakeholders,” Sougata Basu, Founder at CashRich, said.
Women Beat Market, Get Wealthier: A first-of-its-kind insight into how Indian women are investing ANI | Updated: Mar 08, 2021 15:07 IST
New Delhi [India], March 8 (ANI/PRNewswire): On the occasion of International Women s Day 2021, one of India s favourite investment app, ETMONEY has unveiled an investment report based on financial insights collated from its female user-base.
The report aims to debunk myths about the financial behaviour of women, and gain a deeper understanding of the underlying factors that have paved the way for the success of women investors in India.
The report reveals that in each of the past 4 years, women investors on ETMONEY have earned around 10 per cent more returns every year as compared to their male counterparts, with their investments offering the best returns in 2020, the year that challenged every investor.
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