Indian fintech Aurionpro acquires loan management system Omnifin for $9.8m
Mumbai-based fintech firm Aurionpro has acquired Omnifin, a loan management system used by over 45 banks and financial institutions in India, from its parent company AS Software Services.
Aurionpro acquires Omnifin from parent company AS Software Services
The all-cash transaction, worth approximately $9.8 million (INR 820 million), covers the purchase of the entire business including assets and liabilities, intellectual properties, and the transfer of over 150 employees and contracts.
Aurionpro, which provides a range of banking, payments, and business management solutions, says the acquisition will “complement and enhance” its existing portfolio of lending solutions.
Commenting on the deal, Ashish Rai, vice chairman of Aurionpro, says the acquisition of Omnifin “fills an identified gap” in its product suite and “significantly accelerates” the company’s ambitions to take its lending solutions into new markets globally.
Rai says that the company’s focus will be on leveraging the strengths of both businesses to expand “in India as well as international markets”.
