LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Technology News

Capital Float acquires Walnut for $30 mn

"Their approach towards leveraging technology to solve financial concerns of the common individual was particularly impressive... Walnut Prime is a product of deep interest to us, and it will essentially become a new addition to our stable of exceptional, customised credit products," Capital Float founders Sashank Rishyasringa and Gaurav Hinduja said in a statement.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Capital Float acquires Walnut for $30 mn
Walnut offers a personal finance management mobile app that helps users to automatically track spends, bank and card balances, bill payments, and split expenses within a group, Image source:Pixabay
Written By: PTI
Updated: Tue, Aug 21, 2018
01:01 pm
New Delhi, PTI
RELATED NEWS
E-commerce firms from now on should have grievance officers E-commerce firms from now on should have grievance officers
90 pct Flipkart sellers back on platform, 125 per cent rise in new MSMEs 90 pct Flipkart sellers back on platform, 125 per cent rise in new MSMEs
E-commerce policy may incentivise kiranas for joining online ecosystem E-commerce policy may incentivise kiranas for joining online ecosystem
Indian e-commerce on its path to recovery; regains 30% of pre-lockdown order: Report Indian e-commerce on its path to recovery; regains 30% of pre-lockdown order: Report
'Cash on delivery' orders likely to go down post Covid 'Cash on delivery' orders likely to go down post Covid

Digital lending firm Capital Float today said it has acquired Pune-based Walnut (Thumbworks Technologies) in a deal amounting to USD 30 million (about Rs 208.6 crore).

Walnut offers a personal finance management mobile app that helps users to automatically track spends, bank and card balances, bill payments, and split expenses within a group. It has over seven million downloads on Google Play Store.

In July 2017, Walnut had launched 'Walnut Prime', a small-ticket, app-based credit line for its users. It recently crossed Rs 100 crore in loans to users.

"Their approach towards leveraging technology to solve financial concerns of the common individual was particularly impressive... Walnut Prime is a product of deep interest to us, and it will essentially become a new addition to our stable of exceptional, customised credit products," Capital Float founders Sashank Rishyasringa and Gaurav Hinduja said in a statement.

Walnut's 'Prime Credit Score' takes into consideration an alternate data range that includes one's income, purchase behaviour, earning capacity and security savings. The data range also incorporates consumption forms like e-commerce, wallet, shopping, food and bills to get an in-depth insight into the consumer's behaviour, thereby enabling risk evaluation.

"We believe having Capital Float on our side opens up an immense set of opportunities by leveraging their strength in online lending and financial products with our innovative approach to consumer experiences," Walnut founders Patanjali Somayaji and Amit Bhor said.

Founded in 2013, Capital Float has raised funding from investors like SAIF Partners, Sequoia India, Aspada Investments, Creation Investments Capital Management LLC, Ribbit Capital, and Amazon.

Watch Zee Business video here:

The digital lending firm has partnered with over 250 companies to offer finance to consumers availing products and services in segments such as education, vocational training, wellness, elective healthcare, home furnishings, electrical equipment, lifestyle, travel, fitness and consumer durables.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
E-commerceandroid mobile appGoogle Playstore
RELATED NEWS
E-commerce firms from now on should have grievance officers E-commerce firms from now on should have grievance officers
90 pct Flipkart sellers back on platform, 125 per cent rise in new MSMEs 90 pct Flipkart sellers back on platform, 125 per cent rise in new MSMEs
E-commerce policy may incentivise kiranas for joining online ecosystem E-commerce policy may incentivise kiranas for joining online ecosystem
Indian e-commerce on its path to recovery; regains 30% of pre-lockdown order: Report Indian e-commerce on its path to recovery; regains 30% of pre-lockdown order: Report
'Cash on delivery' orders likely to go down post Covid 'Cash on delivery' orders likely to go down post Covid

LATEST NEWS

PUBG Mobile Lite Season 22 Update: Check release date, timings, APK download link and MORE!

ICSE, ISC exams 2021: CISCE releases Class 10, Class 12 date sheet on cisce.org — check exam dates and other details here

After petrol-diesel and LPG cylinder prices increase, CNG, PNG rates hiked in Delhi-NCR too from today

GST collections rise 7 pc to Rs 1.13 lakh cr in Feb

Gold Price Today 2-03-2021 – MCX Gold cheaper by Rs 400 on Tuesday morning, Silver expensive by Rs 69; BUY or SELL?

Anil Singhvi’s Strategy March 2: Day support zone on Nifty is 14,700-14,750 & Bank Nifty is 34,800-35,000

Bitcoin : Microstrategy and Tesla are moving parts of their corporate treasuries into Bitcoin says CIti Research

Indian Pro Music League: Full list of IMPL teams - God of all music shows is here!

SBI Home Loan – Bank offering amazing opportunity to buy a home at concessional interest rates; see FULL details inside

IIM Bangalore placement 2021: 100% placement! 435 students get 481 offers

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved