Bengaluru: Credit information provider Experian said it has entered into a strategic investment into mobile marketing platform Vserv Digital Services Pvt. Ltd, which will give Experian access to new telecom-based customer data sets available with Vserv.
The company did not provide any financial details in its press statement.
However, a person aware of the deal told Mint that the enterprise value of Vserv was pegged at ₹400-450 crore. The latest investment by Experian into Vserv is its seventh series of investments in the Asia Pacific over the last two years.
The partnership will create a new synergy for Experian’s data, analytics and technological ability coupled with Vserv’s mobile marketing solutions backed by a rich repository of mobile internet user base.
With over 45% of India’s adult population having no access to credit, one of the biggest challenges faced by the Banking, Financial Services and Insurance (BFSI) sector in tackling financial inclusion is the lack of information in acquiring such customers. Vserv’s strategic tie-up with Experian will help both companies serve this segment better, according to its statement.
“We’re excited to partner with Vserv to drive this next phase of growth for both organisations. Vserv’s mobile marketing platform and access to authentic telco datasets through their unique data management platform ensures immediate synergies to our core product propositions," said Sathya Kalyanasundaram, country head and managing director, Experian India in a statement.
Experian currently has records of over 940 million unique loans in India, and its new partner Vserv will help the credit scoring company to underwrite customers who are new to credit facilities.
“This is yet another step for Experian in championing alternate data partnerships clubbed with deeper engagement in the BFSI sector, which aligns with our long-term strategy of scaling India to new heights through organic and inorganic growth opportunities," added Kalyanasundaram in a statement.
“We are delighted to partner with Experian, a global leader in the data and analytics space. This partnership shares our vision of driving effective consumer outreach through innovation in digital marketing technology. We will focus on rolling out smart products for the BFSI sector across the marketing stack as their key business partner. Indian consumers have a huge appetite to adopt friction-free digital sign-ups for financial products. Vserv and Experian will work closely with the BFSI sector to enable it," said Dippak Khurana, chief executive of Vserv in a statement.
Vserv has previously raised money from investors such as Maverick Capital, IDG Ventures India and Epiphany Ventures.
Vserv gathers data from smartphone users and builds a user profile which is later shared with advertisers to help them pinpoint ads and promos to user profiles of their choice. Other startups in India's adtech space include Softbank-backed InMobi, Capillary Technologies, Amagi, CleverTap, Crayon Data, and others.