Fintech startup Wint Wealth acquires Chandigarh-based Ambium Finserve

Fintech startup Wint Wealth Group has acquired a majority stake in Chandigarh-based non-banking financial company (NBFC) Ambium Finserve, following the approval from the Reserve Bank Of India (RBI).

The financial specifics of the deal remain undisclosed.

What does Ambium Finserve's do?

Founded in 2017 by Sushil Singhal, Ambium Finserve specializes in providing loans to micro, small, and medium enterprises (MSMEs).

Post-acquisition, Ambium has initiated wholesale lending operations under the new brand name Wint Capital. The firm focuses on lending to growth-stage NBFCs and plans to offer retail loans in collaboration with Wint Wealth Group’s NBFC partners. Wint Capital aims to expand its loan book from the current Rs 50 crore to Rs 500 crore by the end of 2024.

Wint Wealth Group's offerings

Established in 2020 by Abhik Patel, Ajinkya Kulkarni, Anshul Gupta, and Shashank Chimaladari, Wint Wealth Group has cultivated a substantial client base of over 53,000 investors.

The fintech startup facilitates investments in various financial instruments, including fixed deposits, corporate and sovereign gold bonds, and bond baskets, with a total value exceeding Rs 1300 crore.

The acquisition of Ambium and the subsequent NBFC license is expected to broaden the scope of Wint Wealth’s offerings, particularly in corporate bonds.

Wint Wealth's investors

Wint Wealth has raised Rs 8 crore in debt and Rs 63 crore in equity from institutional investors, including Eight Roads Ventures, Billion Brains, 3one4 Capital, and others. 

Earlier this year, It also received the online bond platform provider (OBPP) license from the Securities and Exchange Board of India (SEBI), enabling it to continue its corporate bond investments for retail investors.