Treasury risk consulting firm White Matter Advisory on Monday announced the acquisition of a 90% stake in fintech startup Fairexpay for an undisclosed amount. The acquisition will help White Matter Advisory in expanding its portfolio in the area of cross-border remittance and fund collection services, a release said.
White Matter Advisory, operating under the name SaveDesk (White Matter Advisory India Pvt Ltd), is in the treasury risk advisory sector. It oversees funds under management (FUM) totalling $8 billion, offering advisory services to a wide range of clients.
Bangalore-based White Matter Advisory helps businesses navigate the complexities of treasury and risk management.
Fairexpay, authorised by the Reserve Bank of India (RBI) under Cohort 2 of the Liberalized Remittance Scheme (LRS) Regulatory Sandbox, boasts features, including best-in-class FX rates, 24-hour processing time, and comprehensive security compliance.
“With this acquisition, White Matter Advisory will leverage Fairexpay’s advanced technological platform and regulatory approvals to enhance its client services,” the release said.
The integration of Fairexpay’s capabilities is expected to provide White Matter Advisory with a competitive edge in the cross-border remittance and fund collection market, it added.
The release further said that by integrating Fairexpay’s advanced technology, White Matter Advisory aims to offer seamless and cost-effective cross-border payment solutions, providing clients with secure options for international money transfers.
Source: Economic Times