CIO Insider

CIOInsider India Magazine

Separator

KFin Technologies Procures 17 Percent Stake in Artivatic.ai

Separator

For an undisclosed amount, KFin Technologies, a predominant registrar, transfer agency and one of the market leaders in the financial sector, has conquered a stake of 17 percent in insurtech startup Artivatic.ai, with the option to buy a majority stake in the future.

According to the company, the partnership with Artivatic will help it diversify beyond offering registry services to Mutual Funds, Corporate, and Pensions, among other asset classes. It also enables the firm to diversify beyond offering registry services to Mutual Funds, Corporate, and Pensions, among other asset classes.

Meanwhile, Artivatic.ai will use the funds to broaden its product range and enter new markets in India. Artivatic.ai is a risk-based digital service provider that helps insurers streamline underwriting, claims arbitration, and fraud management.

The investment, according to Layak Singh, Co-founder, Artivatic.ai, will be used to extend the company's technology platform while also expanding into new geographies.

Sreekanth Nadella, CEO, KFin Technologies, said "expanding our portfolio of services into insurance had been in the works, and our investment in Artivatic.ai is the first step in that direction. Aside from funding, KFin will provide access to clients, global growth, thought leadership, and technology and process structures to Artivatic.ai”.

"Through our partnership with KFin and General Atlantic, Artivatic will be able to leverage domain experience, network, and financial support to become one of the preferred insurance solution providers in India and Southeast Asia", Singh said.

He further stated that, “through KFin's support, Artivatic will be able to concentrate its efforts on development, scale, and expanding into new geographies”.

Sreekanth Nadella, CEO, KFin Technologies, said "expanding our portfolio of services into insurance had been in the works, and our investment in Artivatic.ai is the first step in that direction. Aside from funding, KFin will provide access to clients, global growth, thought leadership, and technology and process structures to Artivatic.ai”.

In the investor servicing industry, KFintech is the main registrar and market leader. The business has over 100 million investor accounts and works with over 3500 issuers, including banks, PSUs, and mutual funds. Its real-time data replication capability ensures zero impact in the event of an emergency as an ISO 9001:2015 accredited organisation in the Registrar and Transfer agency room.

Current Issue
Extrieve Technologies: A One-Stop-Shop for Document Management Solutions