TransUnion CIBIL Got Funding Of INR 340 Cr From India Alternatives And Khazanah Nasional Berhad

The funds will assist the company in the next phase of its growth

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Indian private equity firm India Alternatives said on Monday to have sold part of its stake in TransUnion CIBIL Limited (TUCIBIL) to the sovereign wealth fund of the Malaysian government, Khazanah Nasional Berhad, for INR 340 crore, striking a runaway success exit for its first fund.

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Credit information bureau TransUnion CIBIL began its operations in 2000 and extends multiple product offerings ranging from basic credit scoring to high-end predictive analysis.

India Alternatives first invested in TUCIBIL in 2015.

“Rapid digitization, the advent of new technology, and a clear shift in consumer behavior augur well for steady credit growth in India. TUCIBIL continues to be the preferred bureau for credit information and has been a valuable partner to India Alternatives. Having established itself as a one-stop provider of holistic credit information solutions to lenders, TUCIBIL is poised to take advantage of the continued upswing in credit. Given the Company’s stellar past performance, resilient business model and exemplary management, we are retaining a stake in TUCIBIL to be a part of this exciting journey forward,’’ said Shivani Bhasin Sachdeva, founder, and chief executive officer, India Alternatives.

The investment also affirms Khazanah’s continued interest in investing in BFSI and technology in India. Some of their other notable current and past investments in India in those spaces include IDFC, L&T Finance, and Fractal, among others. Globally, some of the significant investments made by Khazanah include CIMB and Sun Life Malaysia in the BFSI space and Palantir in the technology space.

Spark Capital was the exclusive financial advisor on this transaction and represented the selling shareholder.

“The transaction outcome despite the turbulent times for the credit market is a testament to the strength of the CIBIL brand and franchise. TUCIBIL’s leadership in credit information and analytics will continue to be the cornerstone for all lenders in a credit-starved market,” added Skanda Jayaraman, managing director, and head of investment banking, Spark Capital.