Chinese fintech firm Pintec Technology has acquired Australian credit risk related software and services provider InfraRisk.

The financial details of the acquisition were not divulged.

InfraRisk acquisition: Details

Founded in 2008, InfraRisk delivers commercial and retail origination systems to the financial institutions.

The acquisition forms part of Pintec’s international expansion. InfraRisk has clients across Australia, New Zealand, the UK, and in Asian and Middle-Eastern countries.

Even after the acquisition, InfraRisk will continue to be led by its current management. It will also maintain its own brand with independent operations.

Pintec founder and CEO William Wei said: “With rich experience in providing products and services for financial institutions and a well-established reputation and brand, InfraRisk will become a strong support for PINTEC’s overseas business expansion.

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“In the future, PINTEC and InfraRisk will jointly develop new products and explore new markets to serve more financial institutions.

InfraRisk founder and CEO Nicholas Davies said: “With the support from Pintec, InfraRisk will leverage artificial intelligence and big data technologies to upgrade our products and services, and drive future growth by providing financial institutions with comprehensive fintech solutions.”

Pintec focuses on providing customisable and modular fintech solutions to its clients.

The company has two joint ventures to cater to the Southeast Asian market. Its Avatec.ai (S) offers credit assessment services and solutions, while Pivot Fintech provides robo-advisory services.