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Announced

PhonePe to acquire WealthDesk and OpenQ for $50m.

Financials

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Transaction Value£40m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Tags

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India

Private

Pending

Friendly

Acquisition

Single Bidder

Domestic

Majority

digital investment platform

FinTech

investment platform

Synopsis

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PhonePe, a digital payments and financial services platform, agreed to acquire WealthDesk, a platform that allows users to invest in stock and ETF portfolios, and OpenQ, an online wealth management platform, for $50m. WealthDesk works with more than 50 partners from various industries. PhonePe anticipates the platform to grow as additional partners are integrated.

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