Fintech-startup-Karvi-Fintech-General-Atlantic-commits-invests
Summary
With a view to commit more funds for a digital asset management platform Karvy Fintech, the private equity firm General Atlantic has committed to invest a minimum of $100 million in Hyderabad-based Karvy Fintech, reported Inc42. “General Atlantic has a commitment to the company in the form of a line of $100 Mn, which Karvy can draw upon, if and when required, both for investing in capital expenditure (capex) and for making acquisitions,” Shantanu Rastogi, managing director of General Atlantic, said. Earlier in November 2018, the private equity firm General Atlantic had already bought a majority stake in Karvy Fintech. The company Karvy Fintech also claims to process nearly 100 Mn annual transactions for about 100 clients across India and Southeast Asia. Some of the leading wealth management companies under the Karvy Fintech domain include Zerodha, Groww, Sqrl, Paytm Money, among others.