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Kunal Shah backed digital banking platform Anq Finance has acquired healthcare-focused lending start-up Kiwimoney for an undisclosed amount.
The Bengaluru-based start-up aims to ramp up its fintech capabilities, while expanding into lending-related businesses, scaling up its portfolio and widening footprint.
Strategic partnership
Founded by Shrikant Bhalerao this year, Kiwimoney offers loans for healthcare. It also has a strategic partnership with Ahmedabad-based Western Fintrade, which uses its proprietary loan origination and management technologies to help customers avail of its services, the statement added.
“We are excited to join forces with Anq Finance, a company known for its innovative approach to financial services. Together, we aim to redefine the landscape of fintech lending and offer customers cutting-edge solutions, “ said Bhalerao.
In the healthcare-focussed fintech start-ups’ ecosystem, Kiwimoney competes with the likes of QubeHealth and CoverSelf.
Meanwhile, Anq, founded by Ashish Khandelwal, Abhinav AV and Swagat Sarma in 2022, offers prepaid cards that reward users with gold and digital assets for their day-to-day spending.
The start-up claims to have business-to-business (B2B) tie-ups with companies like Swiggy, Zomato, Flipkart and Amazon, where users can make purchases using prepaid cards.
“This strategic acquisition would help us scale Anq further in India and deliver further value to our customers,” Khandelwal said.
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