Aurionpro Solutions Limited has announced the acquisition Arya.ai in a bid to enhance its portfolio of enterprise FinTech offerings with cutting-edge AI technologies.
With this acquisition, Aurionpro aims to accelerate the adoption of responsible, accurate, and auditable AI solutions across various financial sectors.
The firm will acquire a majority stake (67%) in Arya.ai through an all-cash deal. The transaction involves the acquisition of shares held by existing shareholders and the subscription of new equity capital in Arya.ai.
The total investment, including secondary acquisition and fund infusion, amounts to approximately $16.5m.
The integration of Arya.ai’s AI cloud platform with Aurionpro’s suite of offerings will pave the way for the development of an industry-leading Enterprise AI platform tailored to the needs of financial institutions worldwide.
This strategic alignment is poised to create significant value for both companies and their clients.
In a statement regarding the acquisition, Ashish Rai, CEO of Aurionpro Solutions, expressed enthusiasm about the partnership, stating, “The acquisition of Arya.ai marries Aurionpro’s portfolio of industry leading enterprise software with one of the most mature Enterprise AI platforms focused on Banks and Insurers. We are incredibly excited about working with Arya.ai and our wider ecosystem partners to build out the leading Enterprise AI platform, for the financial industry worldwide.”
Founded in 2013 by Vinay Kumar and Deekshith Marla, Arya.ai has been at the forefront of leveraging deep learning and AI technologies in the banking and insurance sectors.
The company’s innovative PaaS offerings include Arya API, Libra, and AryaXAI, aimed at enhancing AI governance and enabling autonomous transactions.
This acquisition marks a significant milestone in the FinTech and AI landscapes, underscoring the growing importance of AI-powered solutions in driving innovation and efficiency across financial services.
Vinay Kumar CEO/Founder of Arya.ai, added, “Our decade long experience in building tools/platform for deep learning helped us to build a truly verticalised AI Operating System for Banking and Insurance. Together with Aurionpro, we are going to build a new generation of Enterprise AI software for Banks and Insurers that truly embeds AI, augmenting a task or Autonomous Agents that can take over entire transactions.”
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