Liquidity Events
Cred to acquire mutual funds-focused wealth mgmt platform Kuvera
Kunal Shah-led fintech platform Cred is set to acquire Bengaluru-headquartered online wealth management startup Kuvera . This would mark the fintech platform’s entry into the mutual funds market.Kuvera’s 50-member team, the founders, will join the larger product team at Cred, post the acquisition. The company will continue to operate independently, while collaborating closely with Cred’s leadership to enhance the network, brand and distribution, according to the statement.Founded in 2016 by Gaurav Rastogi and Neelabh Sanyal, Kuvera allows users to invest in direct mutual funds, digital gold, fixed deposits, Indian and US stocks. It has around 3 lakh users, with assets under management of around INR 50,000 crore.Kuvera has so far raised USD 10 million, with the last round of USD 5 million being led by Fidelity India in 2021.
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