In a bid to further strengthen its fintech portfolio, digital payments firm MobiKwik today announced a strategic investment of Rs. 2 crores in Pune based data science company, Pivotchain Solutions. Founded in February 2017 by Deepak Rao and Yogendra Pratap Singh, Pivotchain is a Predictive Analytics company with expertise in Machine Learning & Artificial Intelligence. It has built exclusive AI and deep learning models for Mobikwik. These models will be instrumental for MobiKwik as it rolls out lending products to address the credit requirements of its user base. Speaking on the strategic investment, Bipin Preet Singh, Founder and CEO, MobiKwik, said, "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 & risk management and this investment will give us an edge over competition. We will continue to invest in companies that can add value to our business."

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."

Digital payments firm, MobiKwik has made its maiden investment by investing R 2 cr in a Pune-based data science company Pivotchain Solutions. MobiKwik's CEO, Bipin Preet Singh said in an official statement, "Pivotchain is doing incredible work in alternate data scoring, predictive modeling and risk management and this investment will give us an edge over competition. We will continue to invest in companies that can add value to our business." According to various reports, MobiKwik has been busy doing some major restructuring and reshuffling of its firm. MobiKwik recently announced the appointment of Vinayak N as its new head of the Lending Business at MobiKwik., Also, Daman Soni who was heading marketing and growth at digital payments entity MobiKwik had quit the company followed by the Chief Business officer, Vineet Singh's exit.

Ltd has invested Rs 2 crore ($294,000) in Pune-based data science company Pivotchain Solutions Technologies Pvt. Ltd. MobiKwik said in a statement that the artificial intelligence and deep learning models built by Pivotchain will be instrumental for its lending products. Pivotchain is a predictive analytics company with expertise in machine learning and artificial intelligence. The statement didn't specify the size of the stake MobiKwik bought in Pivotchain or the valuation. MobiKwik is preparing to roll out digital lending solutions in partnership with banks and non-banking financial companies (NBFCs).

Mobile wallet company Mobikwik has announced today that it has invested Rs 2 crore in Pune-based Pivotchain Solutions, a data science startup focused on deep learning and advanced analytics. Founded in 2017 by Deepak Rao and Yogendra Pratap Singh, Pivotchain offers blockchain based asset registry platform and within a year of its existence, the startup is working closely with banking, insurance, retail and government sectors globally. Notably, Pivotchain has also built exclusive AI and deep learning models for MobiKwik and these models, Mobkwik official's statement, will be instrumental for MobiKwik as it rolls out numerous lending products to address the credit requirements of its user base. MobiKwik founder and CEO Bipin Preet Singh said the company's focus on 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 modelling and risk management and this investment will give us an edge over competition. We will continue to invest in companies that can add value to our business," he said.