Chennai Fintech IppoPay Acquires Tutelar, An AI-based Risk Management Startup

Verticalised payments infrastructure startup IppoPay announced that it is acquiring the business of Tutelar, a full-stack AI-based Risk Management Company.

Tutelar builds products for real-time KYC and transaction fraud detection and risk management at every level of the payments value chain. The company enables risk-free onboarding, dispute resolutions, KYC fraud detection, transaction fraud detection, mis-selling prevention, etc benefiting not only the principals such as merchants and banks but also the intermediaries such as PA-PGs, issuers and fintechs and the TSPs such as payments processors and switch networks.

Mohan K, CEO of IppoPay said “Tutelar is our first and very important addition to the full-suite infra-stack that IppoPay is building. KYC and transaction fraud detection and risk management is a very critical problem that RBI, NPCI and the industry at large are trying to address. Addition of Tutelar makes IppoPay an important constituent in the fight against fraud in the payments space. We are also pleased to welcome Pradeep Kumar, founder of Tutelar and former CEO of Aggrepay to the IppoPay family as our risk specialist adding depth to our senior management bandwidth."

Pradeep Founder/CEO of Tutelar said “We built Tutelar with a vision to improve reporting and control of payments fraud across industries and mis-selling especially affecting banks and financial intermediaries. We wanted to partner with someone who will help us build on this vision and will take this product global. We believe IppoPay is the right home for Tutelar and they have the chops to help us achieve our vision.”

IppoPay is a verticalised payments solutions company providing payment infrastructure to small businesses in Tier-3 to 6 towns, and other large TAM (Total Addressable Market) business segments with unique needs such as education and agri-tech. The Company has over 1,70,000+ MSME merchants in Tamil Nadu. Recently IppoPay brought on-board a senior payments veteran Atish Shelar with 2 decades experience in payments space across HDFC Bank, Billdesk and M2P. The Company is invested into by Coinbase Global Inc., Better Capital and Blume Founders Fund.

Early-stage Startup Udbhata Technologies, that Focuses on Risk Technologies Raises INR 2.75 Cr from SucSEED Innovation Fund and Jani Ventures

SucSEED Indovation Fund, India, an angel fund focused on bringing tech innovation to the market and Jani Ventures Inc, Canada, focused on early investment in promising tech-driven ventures have invested INR 2.75 Cr (~$380k) in Udbhata Technologies Pvt Ltd to commercialize and scale Qoris® ERM, Udbhata’s first offering.

Qoris® ERM (www.qoris.io) is Udbhata’s proprietary risk management software solution focused on the non-financial sector globally, with highly innovative and first-in-class features such as the Peer Analyzer

With quick onboarding, Qoris® Clients respond to risks faster and better, and significantly enhance their internal and external stakeholder confidence. Udbhata’s practitioner first approach helps them understand what it takes to help Clients succeed with Qoris® . After completing the onboarding of its first Client - a listed Pharma Company in May, Udbhata hopes to lock-in its second and third clients very soon.

Udbhata cofounders Anand Sampath (CEO) and Vijaya Kiran Kuralla (Technical Director) have a combined experience of 45+ years in the risk, finance, and technology domains. As former CRO & CCO in large Enterprise, and a risk practitioner; Anand understands what solutions can meaningfully address an Organization’s pain and provide value. And Vijay, with his experience in implementing enterprise deployments, will help scale Qoris® globally.

Speaking on why they have invested Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said, “In this era of changing regulations, it is imperative that enterprises are fully compliant in order to mitigate the risks. As per Grand View Research’s recent report suggests that GRC is a $40Bn market as of 2021 and is poised to grow at 14+% CAGR till 2030 and Udbhata is positioned uniquely to disrupt this GRC segment through its plug and play solutions for non-financial companies. Udbhata’s founders with their decades of experience in risk and regulatory compliance management, are well positioned to take advantage of this business potential across global markets and Asia Pacific region manifests the highest CAGR growth of 20.5% in next 5 years..”

Parth Jani founder of Jani Ventures INC, said “Our unconventional methodology in our investment decisions are based primarily on the technology offering a solution to a clear and present issue. Udbhata, with its unique (scalable, evolutionary & pivotable) GRC solution offering does, for a very under serviced segment of industry. We couple the business/commercial requirements with the arcane approach of analyzing the driving human component, their ability to visualize, strategize, execute, and deliver on metrics. Anand and Udbhata fit into our parameters not just as a silo investee but also as a symbiotic value add to our existing portfolio in India and the North American continent”.

Speaking about the investment, Anand Sampath, CEO, Udbhata Technologies mentions that both investors are a perfect fit for the Company. General Partners of SucSEED come from Risk, Legal and Compliance background, so they appreciate what we are building and how rapidly it can be adapted. Jani Ventures can quickly take Udbhata to international markets such as North America. SucSEED and Jani Ventures not only appreciate our space, but also can help us scale Udbhata to its potential.

As the Company’s TAM unfolds from $3 + Bn, Qoris® and its non-traditional product road-map begins unlocking for its Clients the benefit of automation, optimization (of Cost of Risk) and finally a truly integrated risk management solution - one that combines Governance, Intelligence and decision making in one seamless architecture.

About SucSEED Indovation Fund

SucSEED Indovation Fund (SIF) is an AIF Cat-1 Venture Capital Angel Fund and has grown out of SucSEED Angel Network (SAN) and IIITH Tech Ventures, an early-stage tech seed initiative with IIIT Hyderabad Foundation. General Partners of the Indovation Fund have 100+ years of cumulative experience within technology, fund management, and start-up ecosystem and have already invested in 60+ startups. SIF attempts to support Indian Innovation for mass needs in the following Six (6) sectors - EdTech, FinTech, HealthTech, Security & RegTech, EnterpriseTech SaAS and Digital Economy & Emerging Tech.

About Jani Ventures Inc

Jani Ventures Inc is the tech investment arm of JC Team Capital. Jani Ventures was founded in 2021 with a vision to empower early-stage start-ups and entrepreneurs with strategic capital investment and a highly collaborative engagement model. Its strategies are designed to assist visionary entrepreneurs in building and scaling industry-leading businesses in high-growth international markets. Industry agnostic, Jani Ventures has positioned itself to invest early and create partnerships aimed at inclusive growth.

About Qoris®

Qoris® ERM is Udbhata’s proprietary risk management software solution for the non-financial sector globally, with highly innovative and first-in-class features such as the Peer Analyzer with an affordable Total Cost of Ownership.

About Udbhata Technologies Private Ltd

Udbhata Technologies (established May 2018) is an early-stage startup based out of Hyderabad, India working in a niche confluence of risk management practice, technology and unstructured risk information. Focused on the non-financial sector where the opportunity to innovate is high, with its initial offering Qoris® ERM, Udbhata Technologies is pursuing a $3Bn opportunity.

Problem(s) that Udbhata is addressing:

Companies Lose $$Mn every year from risks while experiencing two key challenges.

• Respond to risks with confidence and speed.
• Understand and control the real costs of risk.

Solution:

Qoris® ERM helps our Clients automate their ERM process, helps them take quicker, better decisions that reduces their Total Cost of Risk.

Founder’s Details –

Anand Sampath | Founder and CEO
20+ yrs. experience - Former CRO & CCO in large Enterprises, and a risk practitioner; CA & CWA (India); CIMA (UK), FRM (US)

Vijaya Kiran Kuralla | Cofounder & Technical Director
20+ yrs. Experience | Implementing Enterprise deployments Delivery Management, Agile Scrum Master, PLM BSc, MCA

Udbhata cofounders Anand Sampath (CEO) and Vijaya Kiran Kuralla (Technical Director) have a combined experience of 45+ years in the risk, finance, and technology domains. As former CRO & CCO in large Enterprise, and a risk practitioner; Anand understands what solutions can meaningfully address an Organization’s pain and provide value. And Vijay, with his experience in implementing enterprise deployments, will help scale Qoris® globally. Including the cofounders, Udbhata’s team size currently is ~15

About the market Potential in this at space:

With Qoris® ERM Udbhata pursues a market of $3Bn. The Global GRC market is expected to grow to $100+ Bn by 2028*.

Vision for Qoris® :

Be the first choice among risk technology solutions (for non-financial companies) globally.

Moody’s Analytics Wins Climate Risk Award at Chartis RiskTech100®

Moody’s Analytics has won the Climate Risk category in the 2021 Chartis RiskTech100®, the first year this category has appeared. It’s one of 10 awards for Moody’s Analytics to go along with the #2 overall ranking. 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201123005378/en/

The Moody’s Analytics offering helps customers first identify whether they have exposure to climate risk in their portfolios and then quantify the impactof exposure to various climate risk factors.

“Expanding our climate risk capabilities is a top priority and one we have invested significantly in achieving,” said Dr. Jing Zhang, Managing Director and Global Head of Quantitative Research at Moody’s Analytics. “Severe climate events throughout 2020 underscore the importance and urgency for market participants to understand how climate change is already affecting—and will continue to affect—the risk and return of their portfolios." 

Measuring the physical risks associated with climate change is one piece of the climate risk management puzzle. Award-winning climate risk analytics from Moody’s ESG Solutions, powered by Moody’s affiliate Four Twenty Seven, a leading provider of physical climate risk data and V.E, a Moody’s affiliate with expertise in transition risk, ESG, and corporate disclosures, are being incorporated across Moody’s Analytics solutions. Moody’s climate solutions suite brings climate data into risk management tools, translating climate risk exposure into financial impact and credit risk across asset classes. 

Our team recently conducted an AI-powered study of climate-related disclosures from roughly 12,000 companies, across industries and regions. Among the findings, which were presented to the Task Force on Climate-Related Financial Disclosures (TCFD) and are highlighted in the most recent status report on TCFD implementation: Only 17% of the companies examined had reported any climate-related information, and with significant variation in focus, content, and quality. 

Capabilities from Moody’s ESG Solutions are also increasingly being leveraged by Moody’s Investors Service (the credit rating agency and sister company of Moody’s Analytics). 

Moody’s Analytics, Moody’s, and all other names, logos, and icons identifying Moody’s Analytics and/or its products and services are trademarks of Moody’s Analytics, Inc. or its affiliates. Third-party trademarks referenced herein are the property of their respective owners. 

About Moody’s Analytics 

Moody’s Analytics provides financial intelligence and analytical tools to help business leaders make better, faster decisions. Our deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs. For more information about Moody’s Analytics, visit our website or connect with us on Twitter and LinkedIn.

Moody's Analytics, Inc. is a subsidiary of Moody's Corporation (NYSE: MCO). Moody’s Corporation reported revenue of $4.8 billion in 2019, employs approximately 11,400 people worldwide and maintains a presence in more than 40 countries.