New Delhi [India], October 18 (ANI/BusinessWire India): AuthBridge, India's largest Authentication player has raised Series A investment from an Infinity Alternatives-led investor group.
Infinity Alternatives is a boutique asset manager, which invests across private and listed equities and currently manages/advises more than US USD 100mn in assets for multiple family offices.
The size of the deal was undisclosed. Gurugram based AuthBridge provides end-to-end digital platforms to verify, onboard and manage customers, employees, vendors, and other stakeholders. AuthBridge was recently awarded by NASSCOM for their digital onboarding product for contactless onboarding.
This investment closely follows the launch of their new-age financial intelligence brand, Fintelle, covering KYC, Risk Intelligence and other digital journeys for the BFSI sector.
Ajay Trehan, Founder & CEO, AuthBridge said, "We welcome Infinity Alternatives to AuthBridge and are excited to partner with them in our journey. While AuthBridge has always grown consistently over the years, we have seen accelerated business growth in the last 18 months. The pandemic has digitized data like never before and we have launched new products & solutions and acquired clients across existing and new industries. Infinity Alternatives coming on board at this stage not only gives us the required capital to further accelerate this growth but also the expertise and knowledge to maximize this growth. We will mainly utilize this investment to further strengthen our technology, hire top talent and launch new growth initiatives as we continue to add value to our clients."
Ashish Kumar Agarwal, CIO at Infinity Alternatives, has been investing in Indian companies for more than 2 decades and has invested in several marquee unicorn investments. Commenting on the development, Ashish said, "In the post-pandemic era, we have been seeing a growing demand for digital platforms and solutions that connect businesses to stakeholders digitally yet efficiently and securely. Data and AI-led identity and background verification, fraud detection and risk mitigation are at the core of many of these solutions; something that AuthBridge has a domain expertise in. We are glad to be backing AuthBridge as they lead the new age of digital transformation."
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