Monetary providers platform Kfin Applied sciences Ltd. on Friday stated it plans to speculate as much as Rs 22.6 crore to accumulate a majority stake in Fintech Merchandise and Options India Pvt., which runs India’s first account aggregator Onemoney.

Kfin has already purchased a 25% stake in Fintech Merchandise for Rs 6.5 crore and should take an extra 50% stake for the remaining quantity over the subsequent two–three months, in response to a regulatory submitting.

In a press release, Kfin stated the deal will assist it increase into the know-how service supplier and account aggregator house.

“We’re specializing in increasing our portfolio of merchandise and options to foster the financialisation of India’s economic system,” the corporate’s Managing Director and Chief Government Sreekanth Nadella stated.

The Kfin Applied sciences scrip closed 1.46% up at Rs 296.30 a bit on the BSE, as towards a 0.24% correction on the benchmark.