The wealth management site ET Money, owned by Times Internet, has been acquired by the wealth and alternates firm 360 One (previously IIFL Wealth) for around Rs 365.8 crore ($44 million).
360 One made a cash payment of Rs 85.83 crore, with the remaining amount being settled through the issuance of 35,90,000 fully paid-up equity shares.
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Two companies, Banayantree Services Limited (ET Money Genius) and Moneygoals Solutions Limited (ET Money), will be acquired by 360 One. ET Money Genius distributes financial goods such as FD, NPS, insurance, P2P lending, and advising, while ET Money offers product administration, business consulting, and other business support services.
According to ET MONEY, it has over 9 lakh active users who generate over 1 lakh dollars in revenue. With SIPs totaling Rs 450 crore and mutual fund net flows of over Rs 750 crore, the platform claims to have gross monthly sales of over Rs 1,200 crore. With an AUM of Rs 1,200 crore, its financial advisory service ET MONEY Genius has more than 76,000 active paying advisory clients.
The revenue for ET Money and ET Money Genius for the fiscal year that concluded in March 2024 was Rs 2 crore and Rs 28.7 crore, respectively.
About 360 One
Founded in 2008 by Karan Bhagat and Yatin Shah, 360 One is India’s leading Wealth & Alternate-focused firm, with a 360° view of the ONE person that matters most – The client.
About ET Money
Founded in 2015 by Mukesh Kalra, ET Money personalizes investing intelligence so that you have the freedom to live your choices.
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