M&A
Wint Wealth acquires majority stake in MSME lender Ambium Finserve
The Reserve Bank of India (RBI) has approved Bengaluru-headquartered Wint Wealth Group's acquisition of a majority stake in Chandigarh-based non-banking financial company (NBFC) Ambium Finserve Pvt Ltd. Ambium Finserve, founded by Sushil Singhal in 2017, offers loans to micro, small and medium enterprises (MSMEs). Wint Wealth Group focuses on fixed-income investments. It has already started its wholesale lending operations under the brand Wint Capital. Wint Capital's current loan book size is close to INR 50 crore; it is expected to grow to INR 500 crore by the end of 2024. Wint Capital has raised INR 8 crore in debt and INR 63 crore in equity from institutional investors so far. It counts Eight Roads Ventures, Billion Brains, 3one4 Capital, Unitary Fund, Blume Ventures, AngelList, Nithin Kamath, Kunal Shah and Lalit Keshre as its investors.
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