PhonePe, an Indian payments business backed by Walmart Inc., is acquiring two wealth management firms for $75 million in total. WealthDesk will cost roughly $50 million, while OpenQ will cost nearly $25 million, including debt, according to people familiar with the situation who asked not to be identified because the facts are confidential. Customers may invest in equities and exchange traded funds through WealthDesk, which was formed in 2016 and is based in Mumbai, India’s financial hub. OpenQ also provides trading baskets and investing analytics to consumers and institutional customers.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The acquisitions will help PhonePe, which is majority owned by Walmart-backed Flipkart, expand its offerings in a lucrative payments market where tech giants such as Alphabet Inc.’s Google, Amazon.com Inc., and SoftBank Group Corp.-backed SoftBank Group Corp.-backed SoftBank Group Corp.-backed SoftBank Group Corp.-backed SoftBank Group has backed the Paytm totally.
Key Points:
Haryana, nestled in the heart of northern India, is a land of cultural richness and…
In India, agriculture serves as the backbone of the economy, employing millions and contributing significantly…
State and Capitals of India India is a vast country in South Asia, the 7th…
In the grand tapestry of American history, certain states stand out for their unique contributions…
In a momentous occasion, the eminent author Ruskin Bond has been bestowed with the Sahitya…
Corn, also known as maize, is one of the world's most vital cereal crops, serving…