Infibeam enters capital market tech space; invests Rs 25 crore in Pirimid Fintech

Indian fintech firm Infibeam Avenues has made a strategic investment of Rs 25 crore to acquire a 49% equity stake in Pirimid Fintech. 

The development marks Infibeam's entry into the capital markets and digital lending software market, responding to the increasing global demand for advanced, secure, and AI-backed software in capital markets.

The role of AI in transforming capital markets

AI is revolutionizing capital markets, with key players like stockbrokers, mutual funds, and investment banks adopting AI-backed software for algorithmic trading. The company belives that this technology enhances performance, accuracy, and compliance while also improving fraud detection and prevention. Pirimid Fintech, with its expertise in this domain, is poised to further innovate in these areas.

What does Pirimid Fintech do?

Pirimid Fintech caters to a diverse clientele across global and domestic capital markets. The company specializes in developing customized capital markets and digital lending products, tools, services, and workflows to meet specific client needs.

Notable clients include BidFX, a subsidiary of the prestigious Singapore Exchange (SGX), as well as financial institutions like Bank of Baroda and Indian fintech player Lendingkart

Enhancing digital lending solutions

Pirimid Fintech is also operating in the digital lending sector with capabilities around modern loan origination systems, data sourcing and advanced business rule engine (BRE).

As part of the deal, Pirimid Fintech will leverage Infibeam's technological foundation to develop innovative digital lending solutions to streamline the lending process, offering faster and more efficient credit disbursement, enhanced customer experience, and improved risk management through advanced data analytics and AI algorithms.

Nirav Prajapati, CEO, Pirimid Fintech said, “Their expertise in building highly secured and scalable technology frameworks will enhance our capabilities and their proven technology solutions will seamlessly integrate with our robust tech solutions, effectively addressing the rising demand for risk mitigation and enhanced operational safety in online capital market trading & digital lending systems.”

Technology integration

The strategic partnership will also enable the integration of Infibeam's digital payments and AI-based frameworks with Pirimid Fintech's capital market trading software for its clients in India and globally.

The company said the integration aims to address and meet regulatory concerns regarding the safety and security of stock market trading. As per Juniper Research forecasts the AI-driven financial fraud detection sector to grow from $6.5 billion in 2022 to $10 billion by 2027, marking a substantial 57% increase.

“Pirimid has built a robust product for capital markets stakeholders and this strategic investment opens up a compelling growth opportunity to capitalize on our existing digital payments and platform solutions, by creating a synergy with the Capital market tech products,” said, Mr. Vishal Mehta, Chairman & Managing Director, Infibeam Avenues Ltd.

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