M2P Fintech, one of the largest API infrastructure companies, has acquired Origa.ai, a SaaS service provider.
The company said in a press release the acquisition will help the firm to bolster its technology capabilities around new age collection. As part of the deal, Venkatesh Chari, the founder and CEO of Origa.ai will take up a product leadership role at M2P and will continue to build out the vision for Origa and bolster the debt management stack.
However, both the companies did not reveal the financial details of the acquisition.
Muthukumar A, Co-founder, M2P Fintech, said the integration of Origa.ai into M2P Fintech’s platform offering sits perfectly with its vision of co-creating products by leveraging our API infrastructure.“With the advent of small-ticket lending products like BNPL, low cost, high technology-enabled collection capabilities will play an important cog in the wheel for digital lending businesses, and we believe we are uniquely poised to cater to this emerging demand,” Muthukumar said.
Origa.ai's platform leverages proprietary technology and data science insights to optimise and accelerate collections, thereby improving the experience for borrowers, lenders, and collection agents. The company provides an AI algorithm-driven debt management platform and services that leverage extensive use of data from various sources for personalised debt management services.
Commenting on the acquisition, Venkatesh said joining M2P Fintech provides Origa.ai a tremendous opportunity to accelerate its vision. “We are looking forward to integrating the Origa.ai services with M2P Fintech's core services and products to benefit any company looking to improve its collections processes,” he said.
