Airtel acquires a stake in fintech startup Seynse

Telecom major Bharti Airtel has acquired a “strategic equity stake” in Fintech startup Seynse Technologies Pvt. Ltd for an undisclosed amount.

The deal was facilitated through Airtel’s subsidiary Bharti Airtel Services, the company said in a statement on Wednesday.

Launched in 2015 by Gourav Jaiswal, Seynse offers a host of digital financial services to its users including a digital lending platform called Loan Singh. To this end, it has built a proprietary credit engine and deploys machine learning to offer easy loans to credit-worthy SMEs.

"Over the years, Airtel has developed strong in-house data science capabilities that enable us to serve our customers better," Bharti Airtel Global CIO and Director (Engineering) Harmeen Mehta said in a statement.

Seynse's advanced credit scoring algorithms based on multiple sources and digital analytics will add immense value to Airtel's innovation factory, it 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,” said Gourav Jaiswal, Director, Seynse.

Seynse, incubated by Prototyze, was incorporated in 2015 in Goa.