ICRA, a credit rating agency, has entered into a definitive agreement to acquire Fintellix, a provider of risk and reporting solutions to global financial institutions for $26 million.
Fintellix, a Bengaluru-based product-led company, specialises in risk, supervisory, and data analytics solutions on its proprietary data platform. Fintellix enables global financial sector entities to meet regulatory requirements while efficiently managing data and providing superior analytics.
The acquisition will strengthen ICRA Group’s portfolio of credit risk assessment and monitoring tools by adding risk reporting capabilities to its existing solutions. ICRA’s portfolio includes credit risk software solutions, Early Warning Systems (EWS) and asset classification tools.
Ramnath Krishnan, MD & Group CEO of ICRA said, “With this acquisition, we reiterate our commitment to being a leading risk technology player. This space is fast evolving with increasing regulatory scrutiny in financial markets, and we believe Fintellix and ICRA together will better address the emerging market needs.”
Shailendra M, CEO of Fintellix, said, “This marks a new chapter for Fintellix – one where our product innovation and global experience will be amplified by ICRA’s scale, credibility, and deep understanding of financial risk.”
ICRA is a credit rating agency in India, and along with its subsidiaries is a preferred partner in providing independent research and analytics solutions. The International Credit Rating Agency Moody’s Investors Service is ICRA’s largest shareholder.
