 "Anuj Kumar, MD, CAMS")
CAMS, which acts as a registrar and transfer agent for mutual funds, on Monday said it has acquired majority stake in Fintuple Technologies, a fintech platform for alternative investment funds (AIFs) and portfolio managers.
With the addition of Fintuple's portfolio of offerings, CAMS is geared towards further strengthening its value proposition for AIF and PMS (portfolio management services) marketplace, according to a statement.
The company, however, did not disclose the financial details of the deal.
Founded in 2018, Fintuple is a new age start-up which has launched niche technology offerings in the areas of client digital on-boarding, KYC, fund data, fact sheets and analysis and other digital support solutions for AIF and PMS.
In a short time-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.
"We expect the AIF and PMS markets to grow at a CAGR of more than 20 per cent over the next decade, and hence found investing into Fintuple as a great opportunity that will assist CAMS and Fintuple in building overall market reach and driving innovation," Anuj Kumar, Managing Director - CAMS, said.
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CAMS's AIF platform serves over 120 clients across all facets of the operations of investor servicing, fund accounting and digital and value-added services.
"The Fintuple solution suite will enhance our capability to meet the bespoke requirements of our clients with ease and speed. The acquisition will further drive CAMS's vision of providing technologically superior products in the BFSI space, specifically to the rapidly growing AIF and PMS segment," he added.
Kaushik Narayan, Co-Founder - Fintuple, said the synergy between CAMS and Fintuple's solutions can be leveraged to solve industry problems and partner with clients to build unique, friction-less experiences for their customers.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
