Warburg Pincus-backed Computer Age Management Services (CAMS) on Monday said it has acquired a majority stake in digital focused platform Fintuple, for an undisclosed amount.
The company looks to bolster its value proposition for alternative investment funds (AIF) and portfolio managers (PMS) with the buyout.
Fintuple, launched in 2018, offers speciality technology for AIF and PMS across client digital onboarding, KYC, fund data, fact sheets and analysis, as well as support in other digital solutions.
“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,” said Kaushik Narayan, Co-Founder at Fintuple.
CAMS claimed that its AIF platform serves over 120 clients across different facets of the operations of investor servicing, fund accounting and digital and value-added services.
The company added that Fintuple’s portfolio of offerings, will boost its provisions in the AIF and PMS marketplace.
“We expect the AIF and PMS markets to grow at a CAGR of more than 20% 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.
The Fintuple solution suite will enhance our capability to meet the bespoke requirements of our clients with ease and speed,” said Anuj Kumar, Managing Director of CAMS.
“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.”
CAMS is a technology-driven financial infrastructure and services provider to mutual funds and other financial institutions.
NSE listed CAMS is backed by private equity firm Warburg Pincus, HDFC and NSE among others.
The company, which acts as a registrar and transfer agent for mutual funds, reported a 37% jump in its consolidated profit after tax to Rs 77.31 crore for the third quarter ended December 31.
It had posted a profit after tax (PAT) of Rs 56.42 crore in the same quarter preceding fiscal, the company's revenues rose 28% to Rs 237.71 crore in the third quarter from Rs 185.95 crore in the year-ago period, according to filings.
