Listen to this article
360 One Wealth and Asset Management (WAM has acquired Times Internet’s ET Money, a direct plan platform.
While 360 One WAM will acquire 100% stake in ET Money via stock swap and cash deal, Times Internet will remain invested by owning stake in the listed entity.
360 One WAM is a wealth and alternates-focused asset management firm. It is the investment and financial advisor to 7200+ relevant families in the HNI and ultra HNI segments with aggregate assets of around Rs.4.67 lakh crore .
Karan Bhagat, Founder & CEO of 360 ONE WAM, said “As we move forward, 360 ONE and ET Money will now be able to leverage the product suite, domain understanding of the business, portfolio advisory solutions, brokerage services and credit solutions to a large user base. The acquisition is expected to result in a strong and faster path of monetisation for ET Money across both users as well as product offerings.”
ET Money has over 9 lakh transacting clients, with more than 1 lakh revenue-generating users. The platform tracks a total AUM of approximately Rs.70,000 crore, with Rs.28,000 crore invested through it.
