Friday, 24 March, 2023

CredAvenue acquires majority stake in Spocto Solutions

<p>CredAvenue, debt marketplace, has acquired a 75.1% stake in Mumbai-based Spocto-an AI and machine learning-powered debt recovery platform. The acquisition will help CredAvenue include a digital collection solutions for lenders and help mitigate risk and curb fraud on its platform. It will also help improve collection efficiency and the platform will further improve its value proposition to the banking and financial sector, the company said in a statement.</p>