Airtel Acquires Strategic Stake In FinTech Startup Seynse

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NEW DELHI: Telecom major Bharti Airtel on Wednesday reported that it has acquired a strategic equity stake in financial technology (FinTech) company Seynse Technologies.

According to the telecom major, it acquired a strategic equity stake in the FinTech company through its subsidiary Bharti Airtel Services.

"Seynse's advanced credit scoring algorithms based on multiple sources and digital analytics will add immense value to our innovation factory," Harmeen Mehta, Global Chief Information Officer and Director - Engineering, Bharti Airtel, was quoted as saying in a statement.

"We look forward to working with the passionate team of professionals at Seynse to bring targeted products and solutions to our 270 million plus customers."

FinTech firm Seynse has created the digital lending platform -- Loan Singh -- which enables easy loans for credit-worthy yet underserved borrowers.

"Seynse has built a proprietary credit engine and advanced machine learning capacity to serve customers," the statement said.

Currently, the telecommunications major has operations in 17 countries across Asia and Africa. It had over 368 million customers across its operations at the end of January 2017.

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Source: IANS
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