General Atlantic-backed KFintech buys 17% in Indian insurtech startup Artivatic.ai

Credit: Flickr/Pictures of Money

American private equity firm General Atlantic-backed registrar and transfer agency, KFin Technologies, on Tuesday said that it has acquired a 17% stake for an undisclosed amount in insurtech startup Artivatic.ai.

The partnership with Artivatic will help KFintech venture into the insurtech space as the firm looks to diversify beyond offering registry services to mutual funds, corporates, and pensions among other asset classes, the company said in a statement.

On the other hand, Artivatic.ai will utilise the funding to broaden its product portfolio, explore new business horizons and expand its footprint across India and other global markets.

Artivatic provides risk-based personalised automated solutions catering to the underwriting, claims, risk & fraud intelligence, embedded distribution, new-age product design, sales intelligence, and more to ease insurance operations benefiting both the insurers and customers.

“KFin prides itself as a hyper-scale backbone for financial services management across asset classes, expanding our portfolio of services into Insurance and our investment into Artivatic.ai is the first step in that direction” Sreekanth Nadella, Chief Executive Officer of KFin Technologies, said.

“Access to capital aside, KFin will contribute to Artivatic.ai with access to clientele, geographic expansion, thought leadership and technology & process frameworks.” he added.

The article was first published on livemint.com.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.