SINGAPORE, April 20, 2024 /PRNewswire/ — Aurionpro Solutions Limited (BSE: 532668) (NSE: AURIONPRO) announces the acquisition of Banking and Insurance focused PaaS startup, Arya.ai. With Arya.ai, Aurionpro will enhance its portfolio of enterprise fintech offerings to expedite adoption of AI that is responsible, accurate, and auditable.

Aurionpro Solutions Ltd. will acquire a majority stake (67%) in Arya.ai. This acquisition will bring products and expertise in Artificial Intelligence, Deep Learning, Intelligent Automation, PaaS, Autonomous AI Platforms, and more, to complement and strengthen Aurionpro’s industry leading portfolio.

The transaction comprises acquisition of shares held by the existing shareholders and subscription of new equity capital in the company. This will be an all-cash deal. The aggregate investment including  secondary acquisition and fund infusion is approximately 16.5 MN USD.

By integrating Arya.ai’s cutting-edge AI cloud platform, with Aurionpro’s comprehensive suite of offerings, the company will create an industry leading Enterprise AI platform focused on creating value for financial institutions globally. 

Commenting on the acquisition, Ashish Rai, CEO of Aurionpro Solutions, stated, “The acquisition of Arya.ai marries Aurionpro’s portfolio of industry leading enterprise software with one of the most mature Enterprise AI platforms focused on Banks and Insurers. We are incredibly excited about working with Arya.ai and our wider ecosystem partners to build out the leading Enterprise AI platform, for the financial industry worldwide.”

“Our decade long experience in building tools/platform for deep learning helped us to build a truly verticalized AI Operating System for Banking and Insurance.” Says Vinay Kumar CEO/Founder of Arya.ai. “Together with Aurionpro, we are going to build a new generation of Enterprise AI software for Banks and Insurers that truly embeds AI, augmenting a task or Autonomous Agents that can take over entire transactions”. 

Founded in 2013 by Vinay Kumar and Deekshith Marla, Arya.ai has been one of the first ‘AI’ startups to use Deep Learning and deploy in enterprises. Arya.ai’s BFSI PaaS offerings include Arya API with 80+ ML models, Libra for fine-tuning SOTA ML models, and AryaXAI for AI governance.

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Pliant, a Berlin-based B2B credit card fintech, has secured over €18 million in a Series A extension, pushing the total funding for this round beyond €50 million.

PayPal Ventures led the latest investment round, with participation from existing investors Alstin Capital, SBI Investment, and Motive Ventures.

Earlier this year, Pliant raised €28 million through its initial Series A funding round. With this new injection of capital, the company is set to expand its cards-as-a-service (CaaS) product into markets outside the European Union, with a focus on the UK.

To facilitate its expansion plans, Pliant has developed multi-currency capabilities, allowing it to offer services in 11 different currencies. This enhancement enables customers to receive invoices in the same currency used for the transaction, a feature particularly beneficial for businesses dealing with significant volumes in non-EUR currencies.

Pliant attributes this funding success to its strong performance in 2023, where it doubled its annual revenues.

Additionally, the fintech has broadened its reach by extending its Electronic Money Institution (EMI) license to cover 25 countries across the European Economic Area (EEA). This expansion allows Pliant to offer financial services beyond card issuance in the region.

Source: fintechfutures.com

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