Refinitiv, a leading provider of financial markets data and infrastructure, announced that the company has partnered with MarketsMojo, India’s algorithm-based fintech and financial advisory platform. The fintech platform can now use Refinitiv’s Knowledge Direct product.
According to the official announcement, Knowledge Direct API will provide MarketMojo’s financial advisers with all the data and tools they need to expand their services. The new partnership will enable the fintech platform to access real-time data and insights of more than 8 million financial instruments.
Commenting on the recent partnership, Mohit Batra, Founder & CEO of MarketsMojo, said: “We are excited to engage Refinitiv as our strategic data partner and know they will add immense value to our business. In line with our mission to create a better tomorrow and be future-ready, our partnership with Refinitiv means our customers will have access to the latest data, tools and insights they need to succeed in today’s markets. We also have some exciting plans aligned for the coming year and look forward to expanding the partnership in the future.”
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India’s Rising Fintech Sector
The fintech sector is booming in India. Finance Magnates earlier reported about India’s fintech dominance in Asia. The financial technology sector in the country attracted nearly $647 million investment across 33 deals during the quarter ending 30 June 2020 compared to China’s $285 million. Indian fintech startup BharatPe recently raised nearly $108 million in a Series D funding round. Additionally, Refinitiv highlighted the emerging trends in the country’s growing financial sector in the latest announcement.
“Fintech sector is increasingly relying on strategic partnerships and trusted data to fuel their growth ambitions. With the disruption in stock markets due to technology, increased competition, and higher customer expectations, the complexity of the global market advisory business keeps growing. Refinitiv is always looking to deliver more value to our clients, therefore we’re delighted to partner with MarketsMojo who are at the cusp of immense growth,” Gautam Verma, Head of South Asia, Data & Analytics at LSEG said in the official press release.