The General Atlantic-backed KFin Technologies has bought a 17% stake for an undisclosed amount in Artivatic.ai. an insurtech start-up. registrar and transfer agency and a market leader in the financial sector providing investor servicing
With this partnership, KFintech will step into the insurtech vertical. This is in line with the firm's plan of action as it is looking to diversify beyond pensions, mutual funds, and corporate, etc asset classes. Artivatic.ai will use this fund to explore new business horizons. broaden the product portfolio, and all-in-all to expand its footprint across the country and other global markets as well.
Founded in 2017, by Layak Singh and Puneet Tandon, Artivatic provides personalized solutions to risk and fraud intelligence, underwriting, fraud and risk intelligence, embedded distribution, new-age product design, sales intelligence, amongst other services to ease insurance operations for customers as well as insurers.
KFin Technologies has created automated services catering to all along the financial logistics chain and classes. Their platform offers services like distribution network, investor servicing, compliance, reporting, and documentation. Its operations are spread over India across 180 branches and two countries abroad, namely, Bahrain, and Malaysia.
The partnership of these two businesses will help in creating a scalable and comprehensive insurtech business.