Wishfin has acquired Ladders, a fintech startup founded by Mr. Prakhar Aggarwal. Ladders was built to simplify buying mutual funds, investment, and insurance products and it deploys a unique customer experience flow to enable better decision making by the customer. Post-acquisition, Ladders team, including Mr. Prakhar Aggarwal, will be joining Wishfin. Ladders has created a multi-stage user experience that integrates information in the journey. It simplifies complicated products like mutual funds and insurance. This helps customers understand the product better and make right financial decisions.
"We have been looking at inorgc growth/acquisitions as a way to augment our product suite and business. We see a lot of interesting acquisition opportunities in the current market and were impressed by what Ladders has built. Our endeavour has always been to improve digital access to financial products. The team at Ladders, led by Prakhar, had built a unique user experience for accessing financial products. We plan to leverage the products build by the Ladders team and offer easy access to investment and insurance to millions of customers through our massive distribution pipe of 37 million customers of financial products, spread across India. We will also be using Ladders product for customer education initiatives as well, particularly in mutual funds and insurance," said Puru Vashishtha, Chairman & MD, Wishfin.com.
Wishfin.com runs financial marketplaces, where consumers can buy various financial products such as loans, mutual funds credit cards etc. Wishfin.com is India's leading lending marketplace with 37 million customers, and it is adding about 700,000 customers every month. Wishfin has disbursed more than USD 3.5 billion worth of retail loans through its platform. Wishfin is a thought leader in financial services and was the first fintech to offer free CIBIL score on Whatsapp in partnership with TransUnion CIBIL (give a missed call at 8287 151 151). Wishfin's investors include Ram Shriram (an early investor in Google and founding Board Member of Google), Neeraj Arora (ex-Head of Business, Whatsapp) and Franklin Templeton (one of the world's largest investment with more than USD 1 trillion in AUM). Wishfin is one of the largest digital partners for top banks in India.
Ladders was started by Prakhar Aggarwal, while he was still at Birla Institute of Technology and Science, Pil. Ladders aims to remove the clutter and streamline investing and insurance at its core.
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( With inputs from ANI )
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