3one4 Capital-Backed Wint Wealth Acquires Ambium To Boost NBFC Play

Fintech startup Wint Wealth Group has bought a majority stake in Chandigarh-based non-banking financial company (NBFC) Ambium Finserve. However, the financial details of the deal were not disclosed.

Wint Wealth Group has received approval from the Reserve Bank of India for the acquisition. With this, the startup, which helps customers navigate through the complexities of fixed deposits, corporate and sovereign gold bonds (SGBs) and the basket of bonds, now has an NBFC licence, it said in a statement on Wednesday (November 22). 

Ambium Finserve, founded by Sushil Singhal in 2017, offers loans to micro, small and medium enterprises (MSMEs). Ambium has already started its wholesale lending operations under the brand name Wint Capital.

The primary focus of Wint Capital will be to lend to growth-stage NBFCs for onward lending. It also aims to offer retail loans jointly with Wint Wealth Group’s NBFC partners. 

Wint Capital currently has a loan book of INR 50 Cr and expects this to grow to INR 500 Cr by the end of 2024.

Wint Wealth Group was founded by Abhik Patel, Ajinkya Kulkarni, Anshul Gupta and Shashank Chimaladari in 2020. The firm claims to have a client base of over 53,000 investors, whom it has enabled to invest in fixed deposits, corporate and sovereign gold bonds, and bond baskets worth over INR 1300 Cr. 

“The NBFC license will open many new avenues of innovation for us as we can now bring corporate bonds from Wint Capital to better address the needs of our retail investors. These bonds, along with our existing offerings in the fixed income space, will help retail investors build a more robust financial portfolio,” said Wint cofounder and CEO Kulkarni. 

Wint Capital counts Eight Roads Ventures, Billion Brains, 3one4 Capital, Unitary Fund, Blume Ventures, AngelList, Nithin Kamath, Kunal Shah and Lalit Keshre, among others as its investors. 

Earlier in July this year, Wint Wealth received the online bond platform provider (OBPP) licence from the Securities and Exchange Board of India (SEBI). The licence will enable the Bengaluru-based startup to continue facilitating investments in corporate bonds for retail investors.

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