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Signzy Completes Acquisition of Difenz at $5 Million Valuation

Signzy, a leading digital banking infrastructure provider, has recently finalized the acquisition of Difenz, a Bengaluru-based company specializing in fraud risk management solutions. The acquisition, structured as a cash-and-equity deal, has valued Difenz at $5 million.

According to Signzy, this strategic acquisition will bolster its capabilities in artificial intelligence (AI) and enhance its ability to offer AI-driven Know Your Customer (KYC) compliance solutions to financial institutions. Additionally, Signzy aims to leverage Difenz's expertise to provide advanced anti-money laundering (AML) screening and transaction monitoring services to its clients.

As part of the acquisition, the co-founders of Difenz, Sivaram Jayaraman and Madhu Srinivas, have joined Signzy as partners, bringing their extensive experience and domain knowledge to the company. Moreover, the acquisition has facilitated an exit for early-stage venture capital firm 8i Ventures, which had previously invested approximately Rs 4.5 crore in Difenz's seed funding round in 2021.

Established in 2020, Difenz offers a comprehensive financial risk management (FRM) platform for transaction monitoring, capable of integration with various payment channels such as cards, point-of-sale (POS) systems, payment gateways, core banking systems, and digital wallets.

Signzy, on the other hand, specializes in providing digital onboarding solutions to banks and non-banking financial companies (NBFCs) through its innovative no-code platform. With a client base exceeding 240 financial institutions, Signzy serves prominent entities including State Bank of India, Axis Bank, and IndusInd Bank.

In recent funding rounds, Signzy has demonstrated significant growth and investor confidence. The company secured $26 million in its Series B funding round led by Gaja Capital. Overall, Signzy has raised over $37 million to date, with support from investors such as Vertex Ventures and Arkam Ventures.

The acquisition of Difenz underscores Signzy's commitment to innovation and its relentless pursuit of enhancing its technological capabilities to meet the evolving needs of the financial services industry.


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