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DSP Mutual Fund acquires Volt Money

EntrackrEntrackr · 4m ago
DSP Mutual Fund acquires Volt Money
Medial

DSP Mutual Fund has acquired Volt Money, a platform providing instant secured loans against mutual funds, according to three sources aware of the development. “The two companies were in talks for the past few months and the deal ultimately closed last month. Following the acquisition, Volt Money key team members will join DSP Mutual Fund,” said one of the sources requesting anonymity as talks are private. Volt Money collaborates with lenders and distribution partners to provide instant secured loans with favorable terms. The company offers credit lines ranging from Rs 25,000 to Rs 1 crore, with interest rates starting at 9% and flexible repayment options. Led by Lalit Bihani, Ankit Agarwal, and Bharat Lamba, the firm raised $1.5 million in a Seed round led by Titan Capital and All In Capital, with participation from individuals including Praveen Jadhav of Raise Ventures, Aditi Kothari of DSP Adiko Holdings, Gemba Capital, Kunal Shah of Cred, and Ashish Kehair and Rahul Jain from Nuvama Wealth. Managed by DSP Investment Managers, DSP Mutual Fund offers investment products across equity, debt, hybrid, and international funds. According to sources, the deal did not provide significant returns for investors. “Volt was unable to secure a follow-on round after its seed funding, but this is a reasonable outcome for the founders,” said another source who wished to remain anonymous. Queries sent to Volt Money and DSP Mutual Fund did not elicit responses until publication of the story. Volt Money competes with Quicklends and DhanLap. Last year, fintech unicorn BharatPe also entered the loans-against-mutual-funds space through a partnership with Volt Money.

BharatPe to offer two-wheeler loans and loans against mutual funds for merchants

EntrackrEntrackr · 11m ago
BharatPe to offer two-wheeler loans and loans against mutual funds for merchants
Medial

Fintech unicorn BharatPe has announced its foray into facilitation of secured loans for merchant partners on its platform. The company has launched facilitation of two-wheeler loans and loans against mutual funds (LAMF) for its existing merchant partners in the first phase. BharatPe has partnered with OTO Capital, a digital commerce and lending platform, for enabling two-wheeler loans while it has tied up with Volt Money to facilitate Loans Against Mutual Funds to its merchant partners. According to BharatPe, its merchants can now avail two-wheeler loans of up to Rs 2.5 lakh at competitive interest rates for a repayment period between 12- 48 months. With the launch of loans against mutual funds, these merchants can also avail loans of up to Rs 1 crore. The firm added that the loan disbursal and collections will be taken care of by the partner at their end. The Peak XV and Tiger Global-backed company is set to expand its offerings over the next three months, introducing a diverse range of products and lenders to meet the needs of merchants. Recently BharatPe invested around $8-9 million in its non banking financial (NBFC) arm Trillion Loans and increased its stake in the Mumbai-based firm to nearly 60%. Entrackr exclusively reported the development. It also raised Rs $10 million in debt through non-convertible debentures from Trifecta Venture and InnoVen Capital.

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