White Matter Advisory Acquires 90% stake in Fairexpay

White Matter Advisory, managing USD 8 billion in FUM, acquired Fairexpay to leverage its technology and regulatory approvals for enhanced client services

New Delhi, July 29, 2024 – Treasury risk consulting firm White Matter Advisory on Thursday announced acquisition of 90 per cent stake in fintech startup Fairexpay for an undisclosed amount.

This strategic acquisition will help White Matter Advisory in expanding its portfolio in the area of cross-border remittance and fund collection services.

White Matter Advisory, operating under the name SaveDesk (White Matter Advisory India Pvt Ltd), is one of the leading players in the treasury risk advisory sector.

It oversees Funds Under Management (FUM) totaling USD 8 billion, offering advisory services to a wide range of clients.

Through SaveDesk’s comprehensive suite of services, White Matter Advisory has established itself as a leader in the financial advisory space. It helps businesses to navigate the complexities of treasury and risk management effectively.

The acquisition of Fairexpay represents a natural extension of White Matter Advisory’s strategic vision. This deal aligns perfectly with the company’s goal to expand its capabilities in the fintech space, leveraging their expertise to reduce costs by 3-5%. By integrating Fairexpay’s advanced technology, White Matter Advisory aims to offer seamless and cost-effective cross-border payment solutions, providing clients with secure options for international money transfers.

Fairexpay, authorized by the Reserve Bank of India (RBI) under Cohort 2 of the Liberalized Remittance Scheme (LRS) Regulatory Sandbox, boasts robust features including best-in-class FX rates, 24-hour processing times, and comprehensive security compliance. These features align perfectly with White Matter Advisory’s commitment to delivering high-quality financial services.

SaveDesk founders Bhaskar Saravana, Saurabh Jain, Kranthi Reddy, and Piuesh Daga bring a wealth of experience in cross-border banking transactions, having worked across various verticals in the banking industry before establishing the company. By combining their resources and expertise, White Matter Advisory and Fairexpay are set to redefine standards in the fintech industry.

With this acquisition, White Matter Advisory will leverage Fairexpay’s advanced technological platform and regulatory approvals to enhance its client services.

The integration of Fairexpay’s capabilities is expected to provide White Matter Advisory with a competitive edge in the cross-border remittance and fund collection market.

This acquisition underscores White Matter Advisory’s commitment to innovation and growth, ensuring it continues to meet the evolving needs of its clients in an increasingly dynamic financial landscape.