Pravin Jadhav led fintech company Raise Financial Services has acquired a 100% stake in Mumbai-based stock broking app Moneylicious.
Following the acquisition, Jayprakash Gupta, founder and CEO of Moneylicious has joined Raise as a co-founder and the company will operate as its fully-owned subsidiary, said Raise Financial in a press statement. The acquisition has also received all required approvals from capital markets regulator SEBI, stock exchanges (BSE, NSE, and MCX) and CDSL.
