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Fulcrum Venture India has announced an investment of Rs 8 crore in Congruent Solutions, a service provider in the pension administration industry.
Post the deal, Fulcrum will hold 20 per cent stake on a post-money valuation of Rs 40 crore and have board representation and board advisor roles, said the release from Fulcrum. The proceeds from the stake sale will be used to expand the business and commence commercialisation of COREDC, its proprietary, modern record keeping system.
Congruent Solutions provides retirement administration and technology development services to companies in the US, UK and Singapore.
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