Kotak Securities said it is acquiring all the assets of Bengaluru-headquartered start-up FundExpert Fintech, a digital multi-asset wealth management platform for independent financial advisors (IFA) and mutual fund distributors.
Over 2,300 distributors use the FundExpert platform to manage mutual fund portfolios worth more than Rs 15,000 crore, Kotak Securities said in a release.
“This acquisition is part of our strategy in scaling IFA-led distribution business with the Kotak brand, our distribution network and vast experience in the financial services sector,” it added.
Source: Business-Standard