Earlier this year, PhonePe applied to the Securities and Exchange Board of India (Sebi) for a mutual fund (MF) licence, joining rivals in the race to set up an asset management company (AMC).PhonePe confirmed that it is acquiring WealthDesk and OpenQ, but didn&#39;t reveal the value of the transaction.&quot;PhonePe is acquiring WealthDesk. The founder and the entire team will be working as a part of the PhonePe group and both the platforms will remain independent,&quot; a PhonePe spokesperson said.The spokesperson added that WealthDesk will remain open to all players, and founder Ujjwal Jain will continue to oversee it.&quot;PhonePe is also acquiring OpenQ, subject to necessary regulatory approvals,&quot; the spokesperson said. &quot;OpenQ is a smart beta wealth management platform, which designs investment strategies and optimal portfolio construction advice. Post-acquisition, OpenQ will be instrumental in creating the Wealth Ecosystem for the PhonePe Group.&quot;After digital payments, financial services have become the next big battleground for players such as PhonePe, Amazon, Google and Paytm.

PhonePe Set To Acquire OpenQ, WealthDesk For About $70 mn

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is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.

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which gives digital readers unlimited access to 8,500+ magazines and newspapers for a monthly subscription price. Magzter also has the largest number of stories in the world with its game-changing ezRead 2.0 feature for its apps, which enables smartphone and small-screen mobile users to enjoy magazine content the way it was meant to be enjoyed, with article text that is easy to read and is accompanied by stunning videos and high resolution photography.

{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.