India’s 360 One Buys ET Money App for $44M


360 One WAM, India’s leading wealth manager for ultra-high-net-worth individuals, has announced its acquisition of the popular Indian mutual fund investment app ET Money for about $44 million. The deal was disclosed in a stock exchange filing on Wednesday evening.

ET Money, which has over 900,000 transacting clients and tracks assets under management of approximately $8.3 billion, has been a favorite among retail investors, with monthly mutual fund net flows of around $89.9 million.

This acquisition follows another recent sale from Times Internet’s portfolio, with Amazon agreeing to buy assets of the on-demand streaming service MX Player for under $100 million.

This move represents 360 One’s entry into the rapidly growing wealth tech sector and is expected to enhance its existing services for high-net-worth and ultra-high-net-worth clients. The combined entity aims to leverage their product offerings, domain expertise, and advisory solutions to reach a broader user base, according to the stock exchange filing.

Manish Singh
Manish Singh
Senior Reporter. Manish covers India’s startup scene and venture capital investments. He also reports on global tech firms’ India play. Previously, Singh wrote for about a dozen publications, including CNBC and VentureBeat. He graduated in Computer Science and Engineering in 2015.

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