CRED to acquire Kuvera

Following this announcement, CRED’s decision to acquire Kuvera was based on the company’s experience team and overall expertise in the process of enabling clients to invest directly and securely in mutual funds and stocks with the use of advisory and tracking products. 

At the same time, Kuvera emerged as a platform of choice for many India-based affluent investors. The average monthly SPI contribution on the platform stands at USD 60, which represents more than twice the industry average. 

More information on the acquisition

Throughout this acquisition, Kuvera is expected to continue to operate as a standalone application, as it also focuses on exploring other integrations in the future. In addition, Juvera’s team of 50 employees is set to join CRED as part of the agreement, while they will work closely with the company to scale its network, ecosystem, brand, and overall distribution at the same time. Kuvera’s portfolio, ongoing investments, and customers’ accounts are expected to remain unchanged as well. Kuvera’s suite of services also aligns with CRED’s strategy of investing for long-term value development, rather than short-term performance. 

The agreement was announced at a time when CRED focused on expanding its offerings into the wealth management industry. Its application was launched originally with the feature to optimise the manner in which members and customers pay their credit card bills on time. Since then, the company prioritised the process of adding new features that provide optimised financial behavior, while also launching in the ecommerce and lending industries. 

Both companies are expected to continue to focus on their advantage of transparency, user value, as well as overall simplicity by integrating their expertise and suite of solutions in a secure and efficient way. The acquisition represents an important opportunity for Kuvera to fast-track the process of building new products and features for its community, while also providing a safe and comprehensive wealth management system to multiple customers. 

Details on the precise value of the deal were not disclosed by CRED or Kuvera, both firms aiming to respect the terms, conditions, and privacy of the acquisition. At the same time, the deal involved both cash and stock.