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Orbo, a startup known for its AI platform in the BFSI sector, is selling its arm 'SuperScan' to Niyogin Fintech Ltd to focus on its BPC offering. The startup posted an operating revenue of INR 2.3 Cr in FY23 and a net loss of INR 4.4 Cr. Orbo decided to divest SuperScan to concentrate on its beauty and personal care industry offerings.
Niyogin plans to acquire Orbo's AI platform to enhance its partner network and streamline credit infrastructure in the BFSI sector. Orbo's move to focus on the beauty and personal care market aligns with the growing industry, with India's D2C BPC market expected to reach $28 Bn by 2030. The acquisition signifies the increasing use of AI and GenAI in the BFSI sector for improved efficiency and financial inclusion.
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