DSP Mutual Fund has acquired Volt Money, a platform that offers instant secured loans against mutual funds, according to three sources familiar with the matter, as reported by Business Headline.
The two companies had been in discussions for several months, and the deal was finalized last month. As part of the acquisition, key members of the Volt Money team will be joining DSP Mutual Fund, said one source who preferred to remain anonymous.
Volt Money works with lenders and distribution partners to offer 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.
Volt Money, led by Lalit Bihani, Ankit Agarwal, and Bharat Lamba, raised $1.5 million in a Seed round. The round was led by Titan Capital and All In Capital, with participation from individuals such as 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.
DSP Mutual Fund, managed by DSP Investment Managers, offers a range of investment products, including equity, debt, hybrid, and international funds.
Sources shared that the acquisition did not bring significant returns for Volt Money’s investors. “Volt was unable to secure additional funding after its seed round, but the deal is a reasonable outcome for the founders,” another source mentioned.
Both Volt Money and DSP Mutual Fund did not respond to queries sent before the publication of this story.
Volt Money competes with other fintech platforms like Quicklends and DhanLap. Last year, BharatPe, a fintech unicorn, also entered the loans-against-mutual-funds space through a partnership with Volt Money.
