Exclusive: DSP acquires Volt Money

DSP Group has acquired Volt Money, a platform that provides instant secured loans against mutual funds, three sources aware of the development told Entrackr.

“The two companies were in talks for the past few months and the deal ultimately closed last month. Following the acquisition, Volt Money key team members will join DSP,” said one of the sources requesting anonymity as talks are private.

Volt Money collaborates with lenders and distribution partners to provide instant secured loans with favorable terms. The company provides credit lines ranging from Rs 25,000 to Rs 1 crore, with interest rates starting at 9% and flexible repayment options.

Led by Lalit Bihani, Ankit Agarwal and Bharat Lamba, the firm raised $1.5 million in Seed round led by Titan Capital and All In Capital with participations of individuals including Praveen Jadhav of Raise Ventures, Aditi Kothari of DSP Adiko Holdings, Gemba Capital, Kunal Shah of Cred, and Ashish Kehair and Rahul Jain from Nuvama Wealth.

Queries sent to Volt Money and DSP did not elicit responses until publication of the story.

Volt Money competes with Quicklends and DhanLap. Last year, fintech unicorn BharatPe also entered the loans-against-mutual-funds space through a partnership with Volt Money.