KFintech acquires stake in insurtech startup Artivatic

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KFin will contribute to Artivatic with access to clientele, geographic expansion, thought leadership and technology and process frameworks.

KFin Technologies, which is backed by American PE firm General Atlantic, has acquired 17% stake in insurtech startup Artivatic for an undisclosed sum.

One of the largest registrars and a leader in investor servicing industry, KFin seeks to venture, with the investment, into insurtech space thus diversifying beyond providing registry services to mutual funds, corporate, pensions amongst other asset classes. It has bought the “stake in Artivatic on a path to majority,” a release said.

Artivatic will use the fund to broaden the product portfolio, explore new business horizons and expand footprint across India and other global markets with the help of KFin.

“Expanding our portfolio of services into insurance had been in the works and our investment into Artivatic.ai is the first step in that direction. Access to capital aside, KFin will contribute to Artivatic with access to clientele, geographic expansion, thought leadership and technology and process frameworks, ”said Sreekanth Nadella, CEO of KFin.

Artivatic provides risk-based personalized automated solutions catering to the underwriting, claims, risk and fraud intelligence, embedded distribution, new-age product design and sales intelligence to ease insurance operations. The startup’s co-founder Layak Singh said through the partnership with KFin and General Atlantic, Artivatic will leverage domain expertise, network and financial support.

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Disclaimer: This post has not been edited by our staff and is published from a syndicated feed. The Original Source of this post can be found at Source link

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