Yudiz Picks Up 51% Stake In ABCM App To Venture Into Fintech Space

Yudiz Picks Up 51% Stake In ABCM App To Venture Into Fintech Space

SUMMARY

Yudiz has picked up a 51.01% stake in ABCM App for INR 6.14 Cr in all-cash deal

By tapping into ABCM App’s fintech solutions, Yudiz aims to build solutions such as AI-driven financial analytics, blockchain-based payment systems and secure digital wallets

Founded in 2019, ABCM App is a SaaS startup specialising in the design and development of financial software and mobile applications

Listed blockchain and IT development startup Yudiz Solutions has forayed into the fintech sector by acquiring a majority stake in Mumbai-based digital payment solutions company ABCM App.

In a statement, the company said it has picked up a 51.01% stake in ABCM App as it seeks to expand its offerings. While Yudiz did not disclose the financial terms of the deal, in an exchange filing last month, the company said the all-cash deal would be valued at INR 6.14 Cr.

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