Telecom operator Bharti Airtel has acquired a strategic equity stake in Seynse Technologies, a financial technology (FinTech) company.
Bharti Airtel did not reveal the size of the investment. The largest telecom operator aims to utilize the capabilities of Seynse to make targeted offer to its 270 million mobile subscribers across the country.
Seynse has created the digital lending platform Loan Singh, which enables loans for credit-worthy borrowers. Seynse has built a proprietary credit engine and advanced machine learning capacity to serve customers.
“Airtel has developed strong in-house data science capabilities that enable us to serve our customers better. Seynse’s credit scoring algorithms based on multiple sources and digital analytics will add value to our innovation factory,” said Harmeen Mehta, global CIO and Director – Engineering, Bharti Airtel.
“This partnership will give Seynse the opportunity to innovate for a much wider audience and add to its product portfolio,” said Gourav Jaswal, director of Seynse.
Seynse, incubated by Prototyze and incorporated in 2015 in Goa, launched its digital lending platform, Loan Singh in April 2016. Loan Singh provides access to loans through its proprietary credit scoring engine, with a network of over dozen partner alliances, banking institutions and individual lenders.
