Franklin Templeton to invest $15 mn in Mywish Market Places

Franklin Templeton International Services (India) will invest USD 15 million (about Rs 101 crore) in Mywish Market Places, engaged in aggregating and facilitating the sale of loan products and credit offerings from banks and financial institutions.
Mywish Market Places Pvt Ltd (MMPL) has plans to expand its business by leveraging its existing technology to develop a digital ecosystem to provide wealth management and investment product-related services.
"The firm will develop the platform for the investment business based in part on know-how provided by Franklin Templeton," a company release said today.
MMPL operates websites including its flagship website www.Deal4loans.Com. It has more than 7 million direct customers and has disbursed more than Rs 10,000 crore in retail loan.

"We see good growth potential going forward, particularly in the planned expansion of MMPL's business to include wealth management and investment product-related services," Vijay Advani, Co-President, Franklin Resources, Inc said.
MMPL's existing investors include Sherpalo Ventures, a VC fund run by Ram Shriram, who was the seed/early investor in many successful global technology companies including Google.
"We also look forward to working with Franklin Templeton on developing a new technology platform for wealth management and investment product-related services," Mywish Market Places Board Director Puru Vashishtha said.