Anq, a new age digital banking platform has acquired Kiwimoney, a lending platform for the healthcare industry for an undisclosed sum.
Kiwimoney founded by Shrikant Bhalerao is in the business of proprietary loan origination and loan management technologies. The lending platform also has a strategic partnership with Ahmedabad based Western Fintrade.
“We are excited to join forces with Anq Finance, a company known for its innovative approach to financial services. Together, we aim to redefine the landscape of fintech lending and offer customers cutting-edge solutions, “ said Bhalerao.
Anq, which provides products like X card, Rewards Marketplace, was co-founded by Ashish Khandelwal, the former head of Xiaomi Financial Services and Bajaj Finserv. Anq is backed by prominent investors like Kunal Shah from Cred , Ashish Sharma from Innoven Capital, Madhusudan from M2P among others.
This acquisition not only enhances Anq’s fintech capabilities but also positions the company to diversify into lending-related businesses, expanding its portfolio and reach within the industry, it said. “This strategic acquisition would help us scale Anq further in India and deliver further value to our customers,” Khandelwal said.
Anq Finance has gained recognition for its prepaid card services, enabling users to earn rewards in gold and digital assets while making everyday purchases at leading merchants, including Swiggy, Zomato, Flipkart, Amazon, and more.
Source: Economic Times