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IndiaMART InterMESH Acquires 10% Stake In Fraud Detection Startup IDfy For INR 90 Cr

Inc42 · 1y ago

IndiaMART InterMESH Acquires 10% Stake In Fraud Detection Startup IDfy For INR 90 Cr

IndiaMART InterMESH has announced its acquisition of IDfy, a provider of products and solutions for KYC, background verification, risk mitigation, digital onboarding, and digital privacy. IDfy, founded in 2011, had earlier raised $27 million in a funding round led by Elev8. The acquisition will allow IndiaMART to enhance its capabilities in these areas and further strengthen its market position in India's business-to-business (B2B) e-commerce industry.

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Unicommerce Acquires 42.76% Stake In Shipway

Inc42 · 7m ago

Unicommerce Acquires 42.76% Stake In Shipway

Unicommerce, a leading ecommerce solutions provider, has announced plans to acquire full ownership of Shipway, a company that specializes in automation of the post-purchase experience for direct-to-consumer (D2C) brands. Shipway integrates with ecommerce software providers and offers end-to-end automation services. As part of the acquisition, IndiaMART InterMESH, a B2B marketplace, has sold its entire stake in Shipway to Unicommerce. The deal is expected to be completed within a year, either through a merger or a stock swap.

Fraud Detection Startup IDfy Nets $27 Mn For Expansion

Inc42 · 1y ago

Fraud Detection Startup IDfy Nets $27 Mn For Expansion

IDfy, an online fraud detection platform, has secured $27 million in a Series E funding round led by Elev8, with participation from KB Investment and Tenacity Ventures. IDfy provides background verification services and helps businesses eliminate fraud using AI-driven predictive analytics. The platform claims to have served over 1,500 clients across various sectors and conducts over 2 million verifications per day. The funding will be used to support the company's expansion plans and product development efforts.

Infibeam acquires 20% stake in US-based XDuce

Thehindubusinessline

Thehindubusinessline · 1y ago

Infibeam acquires 20% stake in US-based XDuce

Infibeam Avenues Ltd, an AI-powered fintech company, is investing $10 million for a 20% strategic stake in XDuce, an enterprise Application and AI development company based in the US. This move aims to integrate Infibeam's Phronetic capabilities into XDuce's framework and support their platform and payments business growth in the US market. The collaboration will enhance XDuce's intelligence quotient by embedding PhroneticAI Fraud detection and Authentication and Risk identification (FAR) AI technology. Infibeam aims to boost its international business contribution and penetrate the US market with AI fintech solutions for financial fraud prevention.

Nuvama Slashes IndiaMART’s PT By 5% To INR 2,650 On Subdued Subscriber Addition

Inc42 · 1y ago

Nuvama Slashes IndiaMART’s PT By 5% To INR 2,650 On Subdued Subscriber Addition

Nuvama Institutional Equities has reduced the 12-month price target for IndiaMART InterMESH by 5% to INR 2,650. The brokerage cited the company's subdued subscriber addition during the March quarter as the reason for the reduction. Nuvama also mentioned that the slowing subscriber additions are impacting IndiaMART's collections. The brokerage maintained a 'HOLD' rating on the stock, stating that there are no signs of recovery in subscriber additions. IndiaMART recently reported a significant increase in its consolidated net profit for Q4 FY24.

Fraud Detection Startup IDfy Unveils Suite To Help Enterprises Comply With DPDP Act

Inc42 · 11m ago

Fraud Detection Startup IDfy Unveils Suite To Help Enterprises Comply With DPDP Act

Online fraud detection platform, IDfy, has launched Privy, a suite of privacy and compliance solutions aimed at helping businesses achieve compliance with the Digital Personal Data Protection Act. Privy offers modules for instant compliance checks, personal data discovery, and consent governance. IDfy claims to conduct over 2 million verifications per day and has served more than 1,500 clients so far. The Mumbai-based startup's suite is designed to assist enterprises in achieving full compliance with the privacy regulations.

IndiaMart fully acquires SaaS firm; Kaynes Tech to buy Canadian electronics company

VCCircle

VCCircle · 1m ago

IndiaMart fully acquires SaaS firm; Kaynes Tech to buy Canadian electronics company

IndiaMART InterMESH Ltd has acquired the remaining shares of Livekeeping Technologies Pvt Ltd, a SaaS firm, for Rs 26.78 crore, making it a wholly owned subsidiary. This move aligns with IndiaMART's goal of expanding its SaaS offerings. Meanwhile, Kaynes Technology India Ltd plans to acquire Canadian electronics company August Electronics Inc. by May 2025 to strengthen its North American presence and improve supply chain and engineering capabilities, broadening its service offerings in key industries.

Perfios acquires fraud detection platform Clari5

Economic Times

Economic Times · 4m ago

Perfios acquires fraud detection platform Clari5

Perfios, a software service provider for banks, acquired fraud detection platform Clari5 from CustomerXPs for an undisclosed amount. Clari5, with 200 employees, will become a wholly owned subsidiary of Perfios, which currently employs 1,500 people. This acquisition aims to enhance Perfios's fraud management capabilities, leveraging Clari5's operations across 15 countries. Perfios plans to bundle fraud detection with its services, supporting the company's international expansion and aiming to address global banking system concerns.

WestBridge Capital Divests Stake In IndiaMART For INR 380 Cr

Inc42 · 1y ago

WestBridge Capital Divests Stake In IndiaMART For INR 380 Cr

WestBridge Capital recently sold shares of IndiaMART via three separate bulk deals, at a discounted price of INR 2,601 per share. SBI Mutual Fund acquired 10.8 lakh shares for INR 280.9 crore, while Morgan Stanley Asia (Singapore) PTE purchased 1.9 lakh shares for nearly INR 50 crore. This coincided with IndiaMART receiving shareholder approval for the reappointment of Dinesh Agarwal as its MD and CEO until January 2030.

Coforge acquires 17% stake in Cigniti Technologies for Rs 645 Cr

YourStory

YourStory · 12m ago

Coforge acquires 17% stake in Cigniti Technologies for Rs 645 Cr

IT company Coforge has acquired a 17% stake in Cigniti Technologies for INR 645 crore through open market transactions. Coforge purchased a total of 46,18,199 shares or 16.9% stake in Cigniti Technologies at an average price of INR 1,398.5 per share. In addition, public shareholders and promoters of Cigniti Technologies sold their shares in the company. Coforge had previously acquired an 11% stake in Cigniti Technologies for INR 426 crore. Cigniti Technologies' shares fell 1.28% to close at INR 1,367.20 per piece on the NSE. The deal is subject to certain conditions precedent.

Nazara Acquires 100% Stake In Subsidiary Nextwave For INR 21.6 Cr

Inc42 · 1y ago

Nazara Acquires 100% Stake In Subsidiary Nextwave For INR 21.6 Cr

Nazara has acquired an additional 28.12% stake in Nextwave for INR 21.6 Cr. This comes after Nazara previously acquired a majority stake in Nextwave in January 2018. However, Nazara's consolidated net profit for Q4 FY24 has declined by 98% YoY to INR 18 Lakh.

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