Bajaj Financial Securities has acquired a stake in Bengaluru-based customer data platform (CDP) Lemnisk through a secondary transaction, providing partial exits to early investors including growX Ventures.
The transaction, whose value remains undisclosed, enables early backers to offload a portion of their holdings to a new strategic investor, without fresh capital entering the company. Despite the partial exit, Lemnisk confirmed that its existing investors continue to remain on board — reaffirming their long-term conviction in the company’s growth trajectory and leadership in the enterprise CDP space.
Founded by Praveen DS, Rinku Ghosh and Subra Krishnan, Lemnisk builds a composable customer data platform designed for financial institutions, insurers, and other regulated enterprises. The platform helps organizations unify fragmented customer data, ensure compliance, and deliver AI-driven, real-time personalization across channels. It supports on-premise, private, and public cloud deployments, offering flexibility crucial to highly regulated industries.
“growX backed Lemnisk when the enterprise CDP category was still nascent. Their early belief and continued guidance have been invaluable to our journey. We’re grateful for their partnership as we continue scaling globally,” said Subra Krishnan, Co-founder & CEO, Lemnisk.
The deal underscores growing interest from large financial services firms in data infrastructure platforms that enable AI-powered, digital-first customer engagement. Bajaj Financial Securities is part of Bajaj Finserv, one of India’s largest diversified financial services groups.
Lemnisk’s existing investors include Bharti Airtel, growX Ventures, and other strategic partners. The company has expanded globally with offices in Dubai, Singapore, and Boston, serving enterprises across banking, insurance, and financial services. “Lemnisk has built category-defining infrastructure at a time when secure customer data platforms are becoming foundational to AI adoption,” said Sheetal Bahl, Founding Partner, growX Ventures. “This transaction validates real value creation — when a major institution like Bajaj Finserv steps in, it’s a sign of genuine market traction. We remain invested and confident in Lemnisk’s long-term potential.”
