M&A
Revolut India buys money transfer company Arvog Forex
Revolut India, the Indian arm of British fintech giant Revolut, has acquired Mumbai-based international money transfers company Arvog Forex. The acquisition is expected to strengthen Revolut's foundation in India and accelerate its plans to offer remittance and forex services to Indian customers. Arvog has a wide presence across India and provides services including cross-border remittances along with other forex services. Revolut has been scouting for acquisitions in India. It has plans to offer Unified Payments Interface (UPI) payments to Indian consumers along with its flagship international cards. Over the next few years, the company is gearing up to launch trading and investments, and debut credit-based products for consumers and small and medium enterprises (SMEs).
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