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Cred acquires Kuvera in a cash-and-stock deal to expand its presence in the digital wealth management space.
With more than 300,000 clients and $6 billion in assets under management, Kuvera offers zero-commission funds and asset management tools. After the merger, Kuvera will operate independently, working closely with Cred for uninterrupted service.
Cred, which operates a platform that rewards users for paying with credit cards, announced annual revenue of about $178.3 million, up 3.5 times in the same period last year.
The company has also launched Cred Flash, venturing into the “buy now, pay later” space, backed by Parfait Finance and Investments.
(Source: techinasia Image source: freepik)
