Infibeam Avenues picks up 49% stake in Ahmedabad-based Pirimid Fintech

Fintech firm Infibeam Avenues on Wednesday announced it had acquired a 49 per cent equity stake with an investment of Rs 25 crore in Ahmedabad-based Pirimid Fintech.

The partnership aims to combine Infibeam’s digital payments and AI-based frameworks with Pirimid Fintech’s capital market trading software for its clients nationwide and globally.

The company said the decision to acquire a stake in the company is in response to the increasing demand in the global capital markets for artificial intelligence (AI)-backed software.

These AI-based systems are utilised to streamline trading, research, and investment processes.