Orowealth acquires Wealth Trust; deal hints at further consolidation

PayTM's zero-fee offering pushes back monetisation plans of digital mutual fund platforms

The Mumbai-based digital platform Wealth Trust, which was earlier planning to shut down its shop, has now got a lease of life with Orowealth acquiring the firm. According to experts, the direct platform space can see more consolidation due to the pricing pressures posed by new entrants such as PayTM.  

Speaking to Business Standard, Vijay Kuppa, co-founder of Orowealth, said, “This is a period of consolidation. We have seen fewer number of new mutual fund (MF) apps coming in the last year.”

Kuppa added that buying Wealth Trust made sense as both the entities shared the same MF Utilities platform and were