The combined entity aims to become a dominant distribution channel for India’s top banks, NBFCs, fintechs, housing finance companies, and insurance providers, they said.
The three founders of Finwizz—Rajeev Singhvi, Anil Mathew, and Syed Haseeb—would continue to hold a controlling stake in the merged entity. Wishfin is backed by marquee global investors, including Franklin Templeton, Sherpalo Ventures (early backers of Google), and General Catalyst. As part of the merger, Sherpalo Ventures and General Catalyst will also become equity shareholders in Finwizz, said the people cited above.
Rajeev Singhvi, Co-Founder of Finwizz, is likely to lead the combined entity as its CEO.
By combining Finwizz’s extensive distribution network and deep consumer insights with Wishfin’s full-stack digital capabilities and data intelligence, the merged entity is poised to create a next-generation, tech-driven credit aggregation model — one that is scalable, efficient, and customer-centric, said the sources close to the deal.
The new entity’s leadership will be significantly strengthened, with Wishfin’s founders joining forces with Finwizz’s founding team to form a deeply experienced management group.The merged entity, according to the sources, plans to raise capital from strategic investors to fuel its next phase of growth and is targeting an initial public offering (IPO)within the next 24 months,Singhi Advisors acted as the exclusive strategic and M&A advisor for the transaction.
Finwizz has scaled this platform without any external funding, delivering consistent profitability, a strong return on capital employed, and operational excellence, firmly establishing itself as a leader in the credit distribution space.
Founded in 2005, Finwizz was established by seasoned bankers Rajeev Singhvi, Anil Mathew, and Syed Haseeb. Operating across 4,500 pin codes, Finwizz disburses over RS 35,000 crore annually and issues over 3 lakh credit cards. It offers a full suite of retail credit products, including personal, home, business, and LAP loans, as well as credit cards.
Wishfin was founded by Rishi Mehra and Puru Vashishtha in 2015, has transformed digital lending in India through its flagship platform, Wishfin.com. With a vision to empower users to make informed financial decisions, Wishfin pioneered several innovations — including offering free CIBIL scores and helping consumers improve credit health.
To date, over 55 million users have applied for credit products via Wishfin, with nearly 10 million monthly active credit score users (6MAUs). The platform boasts deep integrations with leading banks and NBFCs.
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