IN a bid to further strengthen their fintech portfolio, MobiKwik, India’s leading full-stack fintech platform, have made a strategic investment of Rs two crores in Pune-based data science company, Pivotchain Solutions.
Pivotchain is a Predictive Analytics company with expertise in Machine Learning & Artificial Intelligence. It has built exclusive AI and deep learning models for Mobikwik. These models will be instrumental for MobiKwik as it rolls out numerous lending products to address the credit requirements of its user base.
Speaking on the strategic investment, Bipin Preet Singh, founder, and CEO, MobiKwik, said, “MobiKwik is transforming from a leading digital payments player to India’s largest digital financial services platform. Delivering high-quality fintech products will require an immense focus on data, and an in-depth understanding of the user requirements, across categories. Pivotchain is doing incredible work in alternate data scoring, predictive modeling & risk management, and this investment will give us an edge over the competition. We will continue to invest in companies that can add value to our business.”
“We are glad to be part of MobiKwik family. MobiKwik has been a flag bearer in the payments industry and we look forward to working with MobiKwik and deliver the right lending solution across the user base”, said Deepak Rao, founder, and CEO, Pivotchain Solutions.