Sachin Bansal, former co-Founder of Flipkart, is mulling a foray into the mutual fund space, according to a report by ETNow.

The business news channel said Bansal is in advanced talks with the Goyals of Zee Group to buy out Essel Mutual Fund.

He aims to transform it into a tech-backed platform. Multiple meetings have already taken place between the representatives of Sachin Bansal and the Essel management.

Earlier, Essel Mutual Fund’s talks with the Srei Group did not materialise on valuation concerns.

Former BofA banker and Bansal’s friend Ankit Agarwal is leading the talks on behalf of Essel MF, the report said.

After leaving Flipkart, Bansal had announced his interest in BFSI foray.

He started his personal investment vehicle BAC Acquisitions in 2018 to build and invest in diverse verticals.

Queries sent to Sachin Bansal and Essel Mutual Fund by ETNow remained unanswered.