CRED acquires mutual fund start-up Kuvera, forays into wealth management
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Kunal Shah-led CRED has acquired online financial planning and investment platform Kuvera in a cash and stock deal. The move marks CRED's foray into wealth management sector as it plans to use Kuvera's 300,000-strong investor community for cross-selling opportunities. It is expected to offer new products alongside payments, loans, and insurance. Shah acknowledged that Kuvera is a popular brand amongst financially savvy Indians and its products and vision are aligned with CRED's principle of long-term value creation.