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Artivatic Raises Pre-Series A Fund from KFintech to build future of insurtech
Investment will help KFin to diversify its business and support Artivatic in venturing into the South East Asia region
Hyderabad, May 11, 2021: Artivatic is happy to announce today that, it has raised Pre-Series A Investment and strategic partnership with KFin Technologies. Artivatic is a 3 years old startup setup in late 2017 to build infrastructure for insurance. Artivatic has raised earlier 2 rounds of funding as well from Indian Angel Network and many HNIs.
KFin Technologies (Backed by General Atlantic) is, one of India’s largest registrar and a market leader in the investor servicing industry, announced its investment in InsurTech startup, Artivatic.ai. This partnership will help KFintech venture into the Insurtech space as the firm looks to diversify beyond offering Registry services to Mutual Funds, Corporate, Pensions amongst other asset classes. Artivatic.ai will utilise the funding to broaden the product portfolio, explore new business horizons and expand its footprint across India and other global markets with the help of KFin.
Artivatic provides risk-based personalized automated solutions catering to the underwriting, claims, risk & fraud intelligence, embedded distribution, new-age product design, sales intelligence, and more to ease insurance operations benefiting both the insurers and customers. KFin Technologies has transformed its business model through automation and created an ecosystem of comprehensive automated services catering to the ecosystem partners across all financial asset classes. These services range from investor servicing, distribution network, reporting, compliance and documentation. The synergies from these two firms will help in creating an equally comprehensive and scalable InsurTech business.
Speaking on the announcement, Sreekanth Nadella, Chief Executive Officer of KFin Technologies, said, “KFin prides itself as a hyper-scale backbone for financial services management across asset classes. Expanding our portfolio of services into Insurance had been in the works, and our investment into Artivatic.ai is the first step in that direction. We enormously value the techpreneur community and the value they add to the industry. We are very excited about the InsurTech platform that Artivatic.ai has built and grown - a force to reckon with in a short period of time. Access to capital aside, KFin will contribute to Artivatic.ai with access to clientele, geographic expansion, thought leadership and technology & process frameworks.”
Layak Singh, Co-Found, Artivatic.ai, said, “This investment will help Artivatic focus on building and strengthening new-age solutions in Insurance & Healthcare services to provide unified, risk-based, personalized technologies enable end to end digital adoption. Through the partnership with KFintech and General Atlantic, Artivatic will leverage domain expertise, network, and financial support to become one of the preferred solutions providers for insurance and scale faster in India and the South East Asia region. This partnership will allow Artivatic focus majority in growth, scale, expanding to various geographies, through the backing of KFintech.”
Artivatic will use the funds for future growth, scale and strengthening presence in SEA,USA and other markets. Artivatic is poised to launch new age platforms in distribution, Insurance API infrastructure, Commercial Distribution Platforms and more using AI/ML.
For more information, please visit https://www.artivatic.ai