Liquidity Events
Fintech lender Wishfin.com to merge with Finwizz
Noida-based Mywish Marketplaces (Wishfin.com), a digital lending marketplace, is to merge with Mumbai-headquartered Finwizz Financial Services, to create an omni-channel financial product distribution platform. The three founders of Finwizz - Rajeev Singhvi, Anil Mathew, and Syed Haseeb - will hold a controlling stake in the merged entity.As part of the merger, Sherpalo Ventures and General Catalyst will also become equity shareholders in Finwizz. Singhi Advisors acted as the exclusive strategic and M&A advisor for the transaction.The combined entity aims to become a distribution channel for banks, NBFCs (non-banking financial companies), fintechs, housing finance companies, and insurance providers. It is targeting an initial public offering (IPO) within the next 24 months.
Between Dec-15 and Jul-16, Wishfin.com had attracted about USD 17 M from Darby Overseas Investments , Sherpalo Ventures and VH Capital .
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