Global data analytics company Experian has recently announced a strategic investment partnership with Mumbai-based mobile marketing startup Vserv that will give Experian an important minority stake as well as access to new telecom-based customer information provided by Vserv.
While the amount raise was undisclosed, the company stated that the move was parallel to its vision to encourage financial inclusion and help organisations expand their global footprint in the financial services sector by introducing them to the right markets.
This is Experian’s seventh investment in two years focusing on the Asia Pacific region. Sathya Kalyanasundaram, the Country Head and Managing Director of Experian India said, “This is yet another step for Experian in championing alternate data partnerships clubbed with deeper engagement in the BFSI sector, which aligns with our long-term strategy of scaling India to new heights through organic and inorganic growth opportunities.”
The new deal will not only provide the tools Vserv needs to create new products, but also augment its core technology and products team by 15 to 20%.
“This partnership shares our vision of driving effective consumer outreach through innovation in digital marketing technology. We will focus on rolling out smart products for the BFSI sector across the marketing stack as its key business partner. Indian consumers have a huge appetite to adopt friction-free digital sign-ups for financial products. Vserv and Experian will work closely with the BFSI sector to enable it,” said Dippak Khurana, the co-founder and CEO of Vserv.
