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).