M&A M&A
Veefin Group acquires AI & ML-based solutions provider Nityo Tech’s India unit
Source Inc42 (opens in a new tab)
Mumbai-based Veefin Group has acquired fellow Mumbai-based Nityo Tech Pvt Ltd in an all-cash deal to expand its digital services in the banking, financial services and insurance (BFSI) sector.Nityo Tech provides AI (artificial intelligence) and machine learning solutions and operates across 15 verticals, including insurance, telecom and healthcare. It claims to serve 3,000 clients across 44 countries. Veefin will leverage Nityo’s infrastructure to offer services to banks, focused on product engineering, artificial intelligence and data.