Pepper Advantage, a London, UK- and Mumbai, India-based credit intelligence company, acquired Rieom.ai, a provider of an AI-driven credit management software platform based in Pune, India.
The amount of the deal was not disclosed.
Pepper Advantage’s acquisition of Rieom.ai marks an expansion into the Indian market and is indicative of the AI-driven credit management model it plans to bring to additional markets such as Indonesia, Vietnam and the Middle East in the near term. The acquisition also brings product development opportunities as its technology is integrated into Pepper Advantage’s credit technology platform, which offers propriety data and analytics capabilities that can replace legacy credit management processes with an end-to-end solution accessible via API.
Rieom.ai provides a product that is an AI/ML-driven predictive pre-payout credit approval tool that uses socio-demographic and profile-based analysis to assess loan application documents to identify fraud risks and other suspicious behaviour prior to credit approval.
Led by CEO Fraser Gemmell, Pepper Advantage is a credit intelligence company that offers a range of advisory and credit management services and technologies across Asia, Europe, and the United Kingdom. It operates in multiple asset classes including residential and commercial mortgages, real estate, SME loans, asset financing and leasing, auto and consumer loans, credit cards, retail finance and BNPL, in addition to offering a number of outsourced operational support services to both financial and non-financial clients. The company helps investors, financial institutions, fintechs, and banks manage their credit portfolios, with a particular focus on clients whose customers are underserved by traditional mainstream lenders.
FinSMEs
17/05/2023