Phone Interview was the second part and was technical-based after a take-home exercise. After that, there is another technical, and then an in-person interview which are all pretty tough. Make sure you practice a lot
3 rounds, 1st round market sizing similar to consulting cases. 2nd round take home paper to prepare 3rd round in office interviews with multiple people about data manipulation and basic finance
3 rounds; first part is a take-home exercise. The second part is a phone interview that is mainly just market sizing questions. The interviewer was very direct, and got into the questioning right away