CAMS acquires majority stake in Fintuple

Computer Age Management Services Limited (CAMS), India's leading financial infrastructure 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.

As the market leading service partner to the AIF and PMS segment, CAMS platform serves over 120 clients across all facets of the operations of Investor servicing, Fund accounting, Digital and Valueadded services. While the AIF and PMS segment is splintered with several service providers, CAMS's specialisation and continued enrichment to the service stack through digital enhancements have helped secure a leading market share in the domestic AIF and PMS industry. With the addition of Fintuple Technologies portfolio of offerings, CAMS is geared towards further strengthening its value proposition for AIF and PMS.

Commenting on the acquisition, Mr. 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."

Mr. 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."

Fintuple's product offerings seeks to address challenges in an investor's journey starting with the onboarding process arising from siloed systems and lack of exchange of data among the ecosystem players in AIF / PMS space and redundancy in account opening across institutions. The investment fortifies CAMS's position as the leading provider of technology solutions in this market and further strengthens its product offerings especially for Digital Onboarding and eKYC.

Shares of Computer Age Management Services Limited was last trading in BSE at Rs. 2420.80 as compared to the previous close of Rs. 2495.85. The total number of shares traded during the day was 11992 in over 1601 trades.

The stock hit an intraday high of Rs. 2497.45 and intraday low of 2399.00. The net turnover during the day was Rs. 29483837.00.

Source : Equity Bulls

Keywords

ComputerAgeManagementServices INE596I01012 CAMS Fintuple FintechStartup Acquisition