Bajaj Finance acquires 5% stake in TrueFan AI
Bajaj Finance and TrueFan AI will expand their collaboration across personalised marketing, video generation among other things with the goal of enhancing customer experiences.
Bajaj Finance, part of Bajaj Finserv, has acquired a 5% stake in AI-powered video generation platform TrueFan AI for an undisclosed value.
The investment has been made as part of Finserv Intelligence, Bajaj Finserv’s group-wide strategic initiative focused on applied research and innovation in high-tech, scalable solutions built in India for India and global markets.
The initiative will enable Bajaj Finance to invest in technology startups, particularly early-stage companies from seed to Series B, working across areas including artificial intelligence, cybersecurity, quantum technologies, fintech and consumer technology.
The investment in TrueFan AI follows the deployment of its platform by Bajaj Finance at scale. The financial services company has used the technology to generate millions of personalised videos for customer engagement and dealer enablement. The partnership is also aligned with Bajaj Finance’s strategy of using AI-led automation and personalisation across its digital ecosystem.
“As a FINAI company, we are deploying AI at scale across the company. Our investment in TrueFan AI follows sustained, production-scale use of its technology, giving us first-hand experience of the platform’s capabilities and its execution,” said Rajeev Jain, Vice Chairman and Managing Director, Bajaj Finance.
He added that the investment reflects the company’s commitment to supporting proprietary AI innovation in India and its belief in TrueFan AI’s potential to drive enterprise adoption of AI-powered communication.
Going forward, the two companies plan to expand their collaboration across personalised marketing, video generation, in-app live avatar assistance, multilingual AI-powered communication, dealer communication, learning and development, and digital onboarding.
Founded in 2019, TrueFan AI enables enterprises, SMBs and consumers to create hyper-personalised, multilingual video content at scale. The platform supports more than 175 languages and serves over 100 enterprise customers, 150-plus SMBs and 70,000-plus consumers. It has more than 800,000 paid users, while its apps have crossed 60 lakh Android downloads and 10 lakh iOS downloads.