Money & Banking

MobiKwik invests Rs 2 cr in Pivotchain Solutions

K R Srivats New Delhi | Updated on June 17, 2018


 MobiKwik, a full stack fintech platform, has invested Rs 2 crore in Pune-based data science company, Pivotchain Solutions.

This is the first-ever investment for MobiKwik in a data science company and will further strengthen MobiKwik's fintech offerings, said Bipin Preet Singh, Founder & CEO, MobiKwik.

Pivotchain is a Predictive Analytics company with expertise in Machine Learning and Artificial Intelligence (AI). It has built exclusive AI and deep learning models for MobiKwik. These models will be instrumental for MobiKwik as it rolls out numerous lending products to address the credit requirements of its user base.

"Pivotchain is doing incredible work in alternate data scoring, predictive modelling and risk management. This investment will give us an edge over competition. We will continue to invest in companies that can add value to our business," Bipin said.

Deepak Rao, Founder & CEO, Pivotchain Soultions said: "We are glad to be part of MobiKwik family. We look forward to working with MobiKwik and deliver the right lending solution across the user base".

Published on June 17, 2018

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