Infibeam Avenues Ltd, a listed fintech company, announces its strategic foray into the capital markets and digital lending software market by acquiring a significant 49% equity stake in Pirimid Fintech, investing Rs 25 crore to solidify this strategic partnership.
This move is in direct response to the surging demand in the thriving global capital markets for cutting-edge secured and zero latency AI backed software to streamline trading, research and investment processes. Artificial Intelligence (AI) is transforming the capital market, with stockbrokers, mutual funds, corporate treasuries, and investment banks using AI backed trading software for algorithmic trading strategies, which not only boosts performance, accuracy, and returns but also enhances compliance, fraud detection and prevention, according to the statement.
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.
Expressing his enthusiasm, Nirav Prajapati, CEO, Pirimid Fintech said, “We are very excited about this investment and strategic partnership with Infibeam as they are leaders in digital payments developing cutting-edge AI solutions for financial transactions. 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.”
This strategic partnership will integrate Infibeam’s digital payments and AI-based frameworks with Pirimid Fintech’s capital market trading software for its clients in India and globally. This integration aims to not only improve the performance of Pirimid Fintech’s clients but also address and meet regulatory concerns regarding the safety and security of stock market trading. Globally, market regulators are prioritizing trust, security, and risk management in capital markets. 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, as per the statement.
The strategic investment promises to propel the company not only to new heights in the capital market technology space and positioned itself as a key player in the evolving landscape of capital market technology but will also offers an opportunity to build upon its existing payments and platform business for this new business vertical, the statement said.
“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, Vishal Mehta, Chairman & Managing Director, Infibeam Avenues Ltd.
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