Bharti Airtel Services, a subsidiary of India’s largest telecom operator Bharti Airtel, has acquired a “strategic equity stake” in the financial technology startup Seynse Technologies, however, the exact amount of the equity stake is not divulged. Seynse has created a digital lending platform ‘Loan Singh’ that enables easy loans for credit-worthy yet underserved borrowers. Its platform is powered by a proprietary credit engine and advanced machine learning capacity. The startup was incubated by Prototyze, was incorporated in 2015 in Goa.
Harmeen Mehta, Bharti Airtel Global CIO and Director (Engineering), said that “Over the years, Airtel has developed strong in-house data science capabilities that enable us to serve our customers better. Seynse’s advanced credit scoring algorithms based on multiple sources and digital analytics will add immense value to Airtel’s innovation factory. We look forward to working with the passionate team of professionals at Seynse to bring targeted products and solutions to our 270 million-plus customers.