ICRA acquires Fintellix for USD 26 million, strengthening its risk technology portfolio

ICRA Ltd, a leading credit rating agency in India, has entered into a definitive agreement to acquire Fintellix, a Bengaluru-based provider of risk and reporting solutions to global financial institutions. The acquisition, valued at INR equivalent to USD 26 million, is expected to be completed in less than three months, subject to fulfillment of standard and customary conditions precedent. Fintellix, a product-led company, specializes in risk, supervisory, and data analytics solutions, offered on its proprietary data platform. The acquisition will strengthen ICRA Group’s portfolio of credit risk assessment and monitoring tools by adding risk reporting capabilities to its existing solutions.