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Flipkart-owned PhonePe announces new wealth management arm

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Called PhonePe Wealth Services, the company will act as an agent, advisor, distributor, franchiser, surveyors and consultant for financial products.

With wealth management always on PhonePe’s larger strategy, the Bengaluru-based payments company has incorporated its own wealth management arm, according to filings from the Registrar of Companies.

Called PhonePe Wealth Services Pvt. Ltd., the company was incorporated on November 15 and will be based out of PhonePe’s Bengaluru headquarters. According to the RoC, the total paid-up capital in the new entity stands at Rs 20 crore.

As per the........

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