Airtel Acquires Small Ticket Money Lending Firm Seynse

Bharti Airtel today acquired a fintech firm named Seynse Technologies Pvt. Ltd. The acquisition was done through Bharti Airtel’s subsidiary Bharti Airtel Services. Whether it is a complete takeover or a majority equity acquisition is not known.

Seynse (pronounced ‘Sense’), through its financial product called Loan Singh, offers small ticket loans to needy individuals. Seynse has built a proprietary credit engine and advanced machine learning capacity to serve customers.  The company claims it offers loans to creditworthy yet unserved borrowers.

The fintech company is registered in Goa with an authorised capital of Rs 30 lakh and paid up capital of Rs 2 lakh 34 thousand.

“Over the years, Airtel has developed strong in-house data science capabilities that enable us to serve our customers better. Seynse’s advanced credit scoring algorithms based on multiple sources and digital analytics will add immense value to our innovation factory. We look forward to working with the passionate team of professionals at Seynse to bring targeted products and solutions to our 270 million plus customers,” said Harmeen Mehta, Global CIO and Director – Engineering, Bharti Airtel.

Gourav Jaswal, Director, Seynse added “We’re privileged to have Airtel as a partner in our growth journey and look forward to gaining from their deep understanding of the Indian customer. This partnership will give Seynse the opportunity to innovate for a much wider audience and add to its product portfolio.”

The company has 41 employees and its revenue for FY 2016 was Rs 6,53,203.

 

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