Friday, November, 15, 2019 04:01:01
  • The acquisition signifies the achievement of a new milestone by PINTEC in its drive to expand internationally.

  • The deal further enhances the fintech’s capability of serving financial institutions with its SaaS Plus model & exploring new market opportunities globally.

Pintec Technology Holdings Ltd (PINTEC), a Chinese fintech total solutions provider, has reportedly announced the acquisition of Australia-based provider of credit risk solutions, Infrarisk Pty Limited (Infrarisk).

Reports cite, the acquisition signifies the achievement of a new milestone by PINTEC in its ongoing drive to expand its presence internationally. The deal further enhances the fintech’s capability of serving financial institutions with its SaaS Plus model & exploring new market expansion opportunities globally.

According to a press release by PINTEC, InfraRisk brings with it more than 10 years of experience in facilitating services to financial institutions across Australia, the United Kingdom, New Zealand, Asia, the Middle East, Spain and Ireland. Under the terms of the deal, PINTEC would be maintaining the existing management of InfraRisk post acquisition with Nicholas Davies continuing to serve as the Founder & CEO of InfraRisk and Victor Li as the Co-Founder. The company would continue to operate independently under its own brand.

The Founder & CEO of PINTEC, William Wei stated, with a rich experience in facilitating product & services to numerous financial institutions and with a well-established brand & reputation, InfraRisk would be becoming a strong support system for the company’s business expansion overseas. Wei further added that in future, InfraRisk & PINTEC would be jointly developing new products & explore new avenues to cater to more financial institutions.

The Founder & CEO of InfraRisk, Nicholas Davies stated, PINTEC possesses a mature experience in product-operation, best risk-management practice and leading digital-lending technologies that complement InfraRisk’s innovative system of credit risk management. Davies further added, with PINTEC’s support the company would leverage AI & Big Data technologies to enhance its products & services and bring in more future growth.

According to reports, the financial terms of the acquisition deal have not been unveiled yet.