CPP Group invests in Globiva, boosting its growth ambitions in India
Providing continued investment into CPP’s India business
CPP Group are pleased to announce that we have made a strategic investment in the Indian Business Process Management (BPM) company, Globiva.
Three BPM Industry executives founded Globiva in 2017 in Gurgaon, India. Globiva is one of the fastest growing BPM companies in India, and has seen promising business development and significant growth since it was formed. CPP have invested £2m for a 61% stake in the business, with a commitment to provide further funding to support Globiva’s growth plans.
The move is part of our continued investment into our India business. We currently have a live customer base of almost 5m in India which is growing rapidly through relationships. We have a wide range of Indian business partners in the retail banking and non-banking financial services sectors.
Jason Walsh, CPP Group CEO commented:
“We are delighted to have secured this investment in Globiva, a business which has a growing client base and great potential. Our customer numbers in India have grown from less than 1m at the beginning of 2016 to what will be in excess of 5m by the end of this year. The Group’s strategy is to invest in and support parts of the business which present the best opportunities for long term growth and we see India as leading that charge. Our strategy in the Indian business is to extend our value chain and value-add to our partners whilst driving efficiency within our own operation. This deal fits very neatly with that strategy and is aligned to overall growth ambitions for CPP India, which will see it account for an increasing proportion of the Group’s top line revenue over the next three years.
Our expansion in India allows us to provide a good foundation for Globiva to further establish itself and to scale up through our own capacity, whilst at the same time utilising our extensive contacts within the Indian market to bolster their business development activities. This investment also provides the Group with additional options to increase efficiency and profitability”.
Globiva’s co-founders Navneet Gupta, Vikram Singh Nathawat and Ashish Goyal added in a joint statement:
“Globiva has been delivering best in class services to its clients and is acknowledged as one of the fastest growing BPM companies in India. We are excited to have this partnership with CPP Group as it is strategically aligned to our business objectives. This partnership will accelerate Globiva business growth to service wider global markets and offer digital solutions to our clients”.