Deutsche Bank has acquired Mumbai-based financial technology Quantiguous Solutions, while PayMate has bought P2P lending platform Zaitech Technologies. Meanwhile, Cyient Ltd has taken full ownership of its data science unit Cyient Insights.
Deutsche Bank acquires Mumbai fintech startup Quantiguous
German financial services firm Deutsche Bank has acquired Mumbai-based financial technology Quantiguous Solutions for an undisclosed amount.
All employees from Quantiguous will join Deutsche Bank after the acquisition. They will be part of the core team responsible for the development and roll-out of the bank’s global application programming interface.
This marks the first acquisition by the German lender in India. “This acquisition significantly ups the game for Deutsche Bank’s Open Banking strategy,” said Thomas Nielsen, Chief Digital Officer, Global Transaction Banking at Deutsche Bank.
Cyient acquires remaining 49% stake in data sciences arm
Cyient Ltd has signed an agreement to acquire the remaining 49 per cent stake in Cyient Insights Pvt Ltd, a data science company formerly known as Invati Insights, for $515,777.
With this stake buy, engineering and geospatial services firm Cyient will have 100 per cent ownership of the company in which it had acquired 51 per stake in 2014.
“The integration of Cyient Insights will create a unique and comprehensive ecosystem of engineering services, Internet of Things and analytics,” the company said in a statement.
Fintech firm PayMate acquires P2P lending platform Zaitech
B2B digital payments solutions provider PayMate has acquired Zaitech Technologies Pvt Ltd (Z2P), an AI and machine learning based digital lending P2P platform.
“This acquisition will help us to accelerate deployment of credit with cutting edge lending technology to our customers,” said PayMate founder Ajay Adiseshann.
Lightbox Ventures-backed PayMate automates the entire payments process including AR, AP, invoicing, vendor payments, cash flow management, and provides access to working capital.
Meanwhile Zaitech offers consumers a platform where can register on the platform, upload their documents and get approved for a loan in one hour.