KFin Technologies to invest in Fintech Products and Solutions India

KFin Technologies (KFintech) today announced its decision to invest into Fintech Products and Solutions India (FPSIPL), a Technology Service Provider (TSP) having a wholly owned subsidiary, FinSec AA Solutions Private , India's first Account Aggregator, licensed by Reserve Bank of India (RBI).

The partnership will help KFintech venture into TSP and AA business as it looks to diversify beyond its current offerings across asset classes in the financial services ecosystem.

MoneyOne, the brand of FPSIPL, is in the business of providing technology solutions for the BFSI sector. Their primary offering, as a TSP, is to provide a platform for enabling data sharing, data governance and analysis, and related solutions to the clientele in the BFSI domain. OneMoney, the brand of FPSIPL's wholly owned subsidiary, is India's first Account Aggregator (AA), with an NBFC AA license from the RBI. OneMoney is a leading player with over 45% market share in a competitive and emerging Account Aggregator domain.

After this investment, KFin Technologies will own 25.63% of the post-issue equity share capital of FPSIPL. KFintech can acquire additional equity share capital of FPSIPL, taking its aggregate shareholding in FPSIPL to 75.01%, subject to the satisfaction of customary closing conditions and receipt of regulatory approvals.

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