'Arvog Forex' has been acquired by Revolut India, the India incorporated entity of UK's largest fintech firm Revolut - the world's first truly global financial services superapp.
Arvog Finance (Finkurve Financial Services Limited), the rapidly growing smart-tech-enabled diversified finance and venture growth Investment Company has divested its forex subsidiary to tighten focus on fintech ops and venture growth.
Arvog Forex features a best-in-class remittance service and currently services multi-currency accounts to Indian customers. Divesting from it, Arvog Finance seeks to more aggressively target growth in the lending market, thereby focusing on its core business. The company has been acquired by Revolut India, the India incorporated entity of the UK's largest fintech firm Revolut - the world's first truly global financial services superapp.
Arvog Finance is out to realize its vision to build a data-driven digital finance ecosystem that is robust, convenient, reliable, secured, and transparent. It is using its years of experience as an NBFC to drive penetration for financing aimed at serving the society at large. Its approach is to platformise a diverse set of offerings through partnerships with renowned and significant players who share a similar vision. It is strategically using its venture arm for investments in the Indian fintech space, helping and contributing towards growth and developing the fintech ecosystem as a whole.
About the divestiture, Bhavna Bafna, Director at Arvog Forex, said, "Arvog Forex has successfully built a solid portfolio of clients through its wide presence and attractive value proposition. Its acquisition by a top global financial services giant comes as a recognition of the value it continues to create for its key stakeholders. Our decision is driven by a desire to double down on our core value proposition to our customers and our partners in the ecosystem."
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( With inputs from ANI )
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