Revolut India announced the strategic acquisition of international money transfer company, Arvog Forex as part of its multi-million dollar investment into the country.
Paroma Chatterjee, Revolut India head, in a recent interaction with Business Standard had stated that the company will launch its services in the second half of this year and was also open to looking at acquisition in the Indian fintech segment as it eyes for digital banking license.
The acquisition will strengthen Revolut’s foundation in India and accelerate its plans to offer its remittance service and forex services to Indian customers. Arvog has a wide presence across India and provides services including cross-border remittances (sending money abroad) and other forex services. Avrog has presence across the country and has ove 20 branches and catered to over 15000 people last year.
“India is a key region in our global expansion plan and this acquisition is testament to the rapid strides we want to make here,” said Chatterjee on the acquisition.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
