Computer Age Management Services Limited (CAMS), a financial infrastructure company for mutual funds, alternative investment funds (AIF) and portfolio managers (PMS) announced the acquisition of majority stake in Fintuple Technologies Private Limited (Fintuple), a Fintech start-up offering platform and API solutions for AIFs, PMSs, Custodians and Distributors.
Founded in 2018, Fintuple is a new age start-up which has launched niche technology offerings in the areas of client digital on-boarding, eKYC, fund reports, and other support digital solutions for AIF and PMS. In a short span, Fintuple has added marquee AIF brands and Banks to its client roster and is set to expand its footprint as the gateway connecting the digitally savvy consumers to digitally enabled manufacturers and providers, via APIs, the statement said.
With the addition of Fintuple Technologies portfolio of offerings, CAMS is geared towards further strengthening its value proposition for AIF and PMS, a statement said.
Commenting on the acquisition, Anuj Kumar, Managing Director – CAMS, said, “We expect the AIF and PMS markets to grow at a CAGR of more than 15% over the next decade, and hence found investing into Fintuple as a great opportunity that will assist CAMS and Fintuple in the overall market reach and revenue diversification. The Fintuple solution suite will ensure clients who have more bespoke needs to be serviced with ease and speed. The acquisition will further drive CAMS’s vision of providing technologically superior products in the BFSI space, specifically the rapidly growing AIF and PMS segment.”
Kaushik Narayan, Co-Founder – Fintuple, added “Alongside the growth potential, the AIF and PMS segment is also poised for technology led transformation. The synergy between CAMS and Fintuple’s solutions can be leveraged to solve industry problems and partner clients to build unique, friction-less experiences for their customers.”
