Leading real estate financing firm DHFL has acquired 16.33% stake in Mumbai based Social Worth Technologies by investing ₹13.4 Crores. Social worth technologies provides customised software solutions to companies working in finance and lending sectors. This report was first published by ET.
According to the statement given to stock exchange by DHFL, the board has approved the investment on Friday. DHFL counts this investment in its strategy to increase its portfolio in the digital space.
Social Worth Technologies counts this investment as a Series A investment and DHFL will get to appoint one director on board along with one observer. It will also get the right of first refusal, tag along and affirmation voting.