Digital lender Capital Float acquired Walnut

Tinuku - Digital lender Capital Float said on Tuesday it had acquire Pune-based Walnut owned by Thumbworks Technologies Pvt. Ltd, makers of the personal financial management (PFM) app, in a deal amounting to US$30 million. The acquisition follows shortly after Capital Float announced its foray into the consumer finance vertical.

“We’re excited to partner with Capital Float as we aim to exponentially grow and bring Walnut and its intuitive features to millions of more Indians,” Patanjali Somayaji and Amit Bhor, co-founders of Walnut, said in a statement.

Tinuku Digital lender Capital Float acquired Walnut

Walnut is a personal finance management mobile application that helps users to automatically track expenses, bank and card balances, bill payments, and split expenses within a group. It has more than seven million downloads on Play Store.

“Walnut co-founders approach towards leveraging technology to solve financial concerns of the common individual was particularly impressive, and we eagerly look forward to working closely with them,” Sashank Rishyasringa and Gaurav Hinduja, co-founders of Capital Float, said in a statement.