Airtel acquires strategic stake in FinTech Startup Seynse
23 February 2017
Bharti Airtel, the country's largest telecom operator, has acquired a a strategic equity stake in a fintech startup Seynse (pronounced 'sense') Technologies. The acquisition was conducted through its subsidiary Bharti Airtel Services.
Seynse has created the popular 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.
''Over the years, Airtel has developed strong in-house data science capabilities that enable us to serve our customers better. Seynse's advanced credit scoring algorithms based on multiple sources and digital analytics will add immense value to our innovation factory,'' said Harmeen Mehta, Global CIO and Director – Engineering, Bharti Airtel.
''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,'' he added.
Seynse, incubated by Prototyze, was incorporated in 2015 in Goa. It launched its digital lending platform, Loan Singh in April 2016.
''This partnership will give Seynse the opportunity to innovate for a much wider audience and add to its product portfolio,'' Gourav Jaswal, Director, Seynse added.