KFintech acquires WebileApps to expand offerings
City-based technology-driven finance solutions platform KFin Technologies Limited announced its decision to invest and acquire 100 per cent equity stake in WebileApps
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Hyderabad: City-based technology-driven finance solutions platform KFin Technologies Limited announced its decision to invest and acquire 100 per cent equity stake in WebileApps (India) Private Limited, a Hyderabad-based enterprise product development and design company for banking and financial services industry.
WebileApps specialises in artificial intelligence, machine learning, mobility solutions, UI / UX, and other product development. Post this investment, the company will become a wholly-owned subsidiary of KFintech wherein both the companies have worked together for the last six years.
KFintech said the acquisition will lead to accelerated product development in SaaS and PaaS models, bring in additional cloud, artificial intelligence and design expertise that will support KFintech in exploring untapped segments and geographies.
“This acquisition will foster the culture of digital innovation for both KFintech and its clients, driving business growth, customer acquisition and engagement. WebileApps’ offerings in the space of mobility solutions, UI/UX, AI-driven conversational bots amongst others in BFSI sector will add strength to KFintech and its clientele,” said Sreekanth Nadella, MD and CEO, KFintech.
