New Delhi, May 5 -- Skilling and training platform FinX announced on Monday that it has acquired BSE Institute, the financial education and training subsidiary of the BSE, in a move aimed to strengthen its presence in the banking, financial services, and insurance (BFSI) education sector.
The Mumbai-based edtech startup, which in December secured $6 million (Rs 50 crore) in seed funding from venture capital firm Elevar Equity, said it acquired BSE Institute in an all-cash deal worth Rs 16.9 crore.
The deal comes roughly two weeks after NSE Academy, a wholly-owned unit of the National Stock Exchange (NSE) of India Ltd, sold skill development and training platform TalentSprint to global technology firm Accenture for Rs 245 crore.
According to FinX, the acquisition will boost its product portfolio, client network, training infrastructure, and business opportunities.
"With this enhanced product portfolio, FinX will provide a comprehensive suite of programs to address the evolving needs of both financial services and technology sectors, offering cutting-edge training solutions for the next-generation workforce," Himanshu Vyapak, CEO of FinX, said in a statement.
Founded in 2019 by Vyapak, FinX prepares students for careers in the BFSI sector. Its unit CIEL offers corporate learning solutions to professionals across banking, asset management, wealth advisory, insurance, NBFCs, financial distribution, and broking sectors. The company has a team of over 80 associates and a network of more than 1,000 freelance trainers.
FinX and BSE Institute have together trained over 50,000 students and professionals. The merged entity is expected to generate consolidated revenue of over Rs 50 crore in FY25, FinX said in a statement.
The company has set the goal to reach more than 100,000 learners annually through its joint degree programs with universities, industry-recognized certifications, and short-term courses integrated within college curricula. FinX said it has also partnered with over 70 BFSI companies to enable hiring for roles in relationship management, equity dealing, customer service, operations, and business development.
Set up in 1989, BSE Institute has provided financial markets training and professional education in banking, capital markets, data science, fintech, and allied domains. In its three decades of operation, the institute has trained more than 300,000 participants across the country. It currently offers over 150 specialized programs covering capital markets, banking, risk management, data analytics, and financial technology.
Published by HT Digital Content Services with permission from VC Circle.