PayJoy to Acquire Strategic Assets of Finia AI, Advancing AI Underwriting and Financial Product Innovation
aiinsider ·
PayJoy, a financial services provider for underserved consumers in emerging markets, has acquired select strategic assets from Finia AI, a Mexican fintech specializing in AI-powered underwriting. This acquisition integrates Finia’s technology into PayJoy’s global platform, which currently serves over 20 million customers across nine countries and has financed more than $3.5 billion in loans. The deal aims to strengthen PayJoy’s risk assessment capabilities and expand its product range for individuals with limited credit history. Finia developed specialized tools to assess creditworthiness for micro-businesses lacking traditional financial data. Uri Pomerantz, Finia’s CEO, expressed excitement about scaling their technology through PayJoy’s extensive reach. Jose Luis Gonzalez of PayJoy Mexico highlighted that these capabilities address core challenges in financial inclusion. Additionally, the two firms will partner to help eligible Finia customers access PayJoy’s loan products.
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