MobiKwik invests Rs 2 Cr in Pune-based data science company Pivotchain Solutions

In a bid to strengthen its fintech portfolio, digital payments platform MobiKwik on Monday announced it has made a strategic investment of Rs 2 crore in Pune-based data science company Pivotchain Solutions. Pivotchain is a predictive analytics company with expertise in Machine Learning and Artificial Intelligence, and has built exclusive AI and deep learning models for MobiKwik. The Gurgaon-based payments firm said these models will be instrumental for MobiKwik as it rolls out numerous lending products to address the credit requirements of its user base. "MobiKwik is transforming from a leading digital payments player to India's largest digital financial services platform. Delivering high quality fintech products will require immense focus on data, and an in-depth understanding of the user requirements, across categories. Pivotchain is doing incredible work in alternate data scoring, predictive modeling and risk management and this investment will give us an edge over competition."