Rewards-based platform Anq announces acquisition of Kiwimoney

By Gloria Mathias

Anq, a new-age digital banking platform that provides rewards, has acquired Kiwimoney, which is a lending platform for the healthcare industry, for an undisclosed sum.

Kiwimoney, founded by Shrikant Bhalerao, is in the business of proprietary loan origination and loan management technologies. The lending platform also has a strategic partnership with Ahmedabad-based Western Fintrade.

“We are excited to join forces with Anq Finance, a company known for its innovative approach to financial services. Together, we aim to redefine the landscape of fintech lending and offer customers cutting-edge solutions, “shared Shrikant Bhalerao.

Ashish Khandelwal, Founder, Anq said, “This strategic acquisition would help us scale Anq further in India and deliver further value to our customers.”

Anq was co-founded by Ashish Khandelwal. He is the former head of Xiaomi Financial Services and Bajaj Finserv. Anq is backed by prominent investors like Kunal Shah from Cred, Ashish Sharma from Innoven Capital, and Madhusudan from M2P among others.

This acquisition not only enhances Anq’s FinTech capabilities but also positions the company to diversify into lending-related businesses, expanding its portfolio and reach within the industry.

Anq Finance has gained widespread recognition for its prepaid card services, enabling users to earn rewards in gold and digital assets while making everyday purchases at leading merchants, including Swiggy, Zomato, Flipkart, Amazon, and more.

Anq Finance is a FinTech company co-founded by Ashish Khandelwal, a luminary in the financial services sector with experience working with Bajaj Finserv, and backed by multiple angels, including Kunal Shah of CRED. The company offers prepaid cards that reward users with gold and digital assets for their everyday spending.

Kiwimoney is a FinTech startup in the healthcare financing sector, transforming the healthcare financing landscape in India. It empowers individuals to access essential medical care, regardless of their financial constraints, by providing seamless and affordable healthcare loans. Kiwimoney offers financial assistance for all minimally invasive elective surgeries in various categories, such as proctology, laparoscopy, urology, vascular, ophthalmology, gynaecology, cosmetic, ENT, orthopaedic, and dental.