NEW DELHI: Mobile wallet company Mobikwik today announced that it has invested Rs 2 crore in Pune-based data science company, Pivotchain Solutions. The investment will boost Mobikwik's Fintech offerings, the company said in a statement.
Founded in 2017 by Deepak Rao and Yogendra Pratap Singh, Pivotchain Solutions is a predictive analytics firm with expertise in machine learning and artificial intelligence and has built exclusive AI and deep learning models for Mobikwik.
These models will be instrumental for MobiKwik as it rolls out numerous lending products to address the credit requirements of its user base, the statement said.
MobiKwik founder and CEO Bipin Preet Singh said the company's focus on delivering high-quality fintech products will require an 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 in the competitive market.", said the CEO.