CashRich, a prominent wealth-tech firm, has acquired WealthApp’s mutual fund distribution business in an all-cash deal. Though the acquisition amount is undisclosed, this deal is expected to strengthen CashRich’s position as a prominent investment app in India. The company had raised equity funding from existing three UK-based investors to finance this acquisition.

After the acquisition, CashRich’s user base will reach around 200,000. WealthApp’s asset under management (AUM) will merge with the existing AUM at CashRich. Its mutual fund processing is done using the BSE STAR MF platform and SIP mandates are via NPCI‘s NACH platform. They have both helped in the technical integration process during this M&A.

Using CashRich, individuals can invest in mutual funds and buy insurance products easily. Its approach of dynamic SIP helps retail investors to automatically build wealth during volatile markets. CashRich is planning to expand in other financial products and increase distribution via partnerships. The company will explore more acquisition opportunities and has invited individual distributors as well as firms who are in the mutual fund business to get in touch to explore opportunities for collaboration.