TATA seeks to enter the digital financial services market, Super App may be the next thing
Tata Group’s next major acquisition may be in the field of financial technology. It seems like a part of its strategy to build a Super App. Sources said that the company may acquire shares in a payment gateway company or a payment wallet company.
“Tata Group will soon acquire a company to enable them to enter the digital financial services market. They are exploring several companies and they are likely to acquire one soon,” one of the sources said.
Tata Group plans to provide a series of products and services. These include e-commerce, financial services, fashion, and lifestyle under the new super application platform. Tata Digital is under commission to build this platform. In recent months, the company has obtained majority stakes in a large number of online companies. The companies include BigBasket, Curefit, JustDial, Soulfull, and 1mg. Now, there are reports that you can acquire Dunzo as excellent terrain.
Lastly, a financial technology expert who requested anonymity stated that the acquisition of payment gateway or wallet companies has been on the Tata card for a long time and is a little short of reaching a deal with the players. Report also indicated that the Tata family may establish a new bank under the super app umbrella to provide financial services, including mutual funds. Investor and business strategist Lloyd Mathias recently told BusinessLine: “Obviously, Tata recognizes the importance of the digital space.
Although they may enter later, they can quickly catch up on some key acquisitions. Although Reliance’s JioMart, Amazon and Walmart Flipkart They have undergone a major integration, but Tata wants to make sure they play a role in this growing field, which will become increasingly dominant over time. “