TH Global Capital has advised LUMIQ, an Indian AI and data analytics firm built around banking, insurance and lending clients, on a growth equity investment by Bajaj Finserv Ventures and Info Edge Venture Fund. For the advisory firm, it is the 35th deal in the fintech and BFSI space globally.
TH Global Capital acted as exclusive financial advisor to LUMIQ on the transaction, which was completed in June. Terms of the investment were not disclosed.
The capital will be used to expand LUMIQ’s portfolio of AI and data products, and to broaden its enterprise client base across financial services and beyond.
The target
Founded in 2007 and headquartered in India, LUMIQ specialises in AI and data transformation for the financial services industry, working with enterprises on data quality and the adoption of generative AI.
The company employs over 350 certified architects and engineers and has completed more than 40 global implementations across the insurance, banking, capital markets and lending verticals. Its proprietary platforms combine data science and data engineering, allowing clients to build data products and speed up their data maturity.
The investors
Bajaj Finserv Ventures is the venture capital arm of Bajaj Finserv, one of India’s largest diversified financial services groups. Through its flagship lending business, Bajaj Finance, the group manages assets of more than $50 billion, alongside businesses in insurance, wealth management and digital financial services.
Info Edge Venture Fund is the investment arm of Info Edge (India), the company behind internet platforms including Naukri.com, 99acres.com and Jeevansathi.com. The fund backs high-growth technology businesses in India.
The combination is unusual in one respect: a financial services group investing in a supplier to its own sector, alongside an investor already on LUMIQ’s cap table.
“It is especially gratifying to see a client invest in its trusted service provider, as well as an existing investor continue to participate in the follow-on round”, said Abhishek Vaish, Executive Director at TH Global Capital.
An accelerating market
The mandate lands in a market where enterprise adoption of AI is picking up pace, and where BFSI firms are moving from conventional analytics towards agentic systems embedded in operational workstreams.
“LUMIQ has built a truly differentiated platform at the intersection of Data Engineering, Generative AI, and Financial Services – a combination that is increasingly critical for enterprises navigating the next dynamic wave of AI and data led digital transformation,” said Vivek Subramanyam, Founder and CEO of TH Global Capital.