Angel One Looking At More Acquisitions To Tap Gen Z After Dstreet Finance Deal
Angel One Ltd. is keen on acquiring more startups and boosting inorganic growth, after acquiring Dstreet Finance.
The broking platform has acquired the team of Bengaluru-based fintech startup, Dstreet Finance, which will lead content, user engagement and learning related offerings, it announced on Thursday. The deal size was undisclosed.
The integration of the Dstreet team is a "strategic move towards enhancing our offerings for the next-generation clients and aligns with our vision of evolving into a comprehensive fintech company," said Dinesh Thakkar, chairman and managing director at Angel One, in a press statement.
In a conversation with BQ Prime, Chief Business Officer Prateek Mehta said typically, in financial services, when a customer has made a choice of trust on a particular platform, they want more from that platform.
In that context, Angel One can partner with different players in the industry, he said. "In our case, we know our customers are looking for more solutions ... the wealth (management) space is of a lot of interest for us. Today, our customer's average age is 28-29, but over the next 4-5 years, they will get older and what they want to do with their money, savings, wealth accumulation and wealth creation—all of that is going to change," he said.
Mehta added that Angel One has a lot of interest in two other areas for acquisitions. "One is adjacencies to our core broking business, wherein people are trying to figure out how to get to better outcomes. Then, there are content engagement and learning platforms," he said.
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