Sagent sets up India office in Chennai

Chennai, May 9 (PTI) Financial software company Sagent, backed by Warburg Pincus LLC, a global growth investor, has inaugurated its centre in the city, a top official said here on Tuesday.

The Chennai office spread across 18,367 sq ft at DLF Ramapuram would host over 120 members.

"Three key Sagent operational milestones this year are hiring Fannie Mae vet Marianne Sullivan as COO, hiring Wells Fargo vet Perry Hilzendeger as EVP, Servicing and opening our Chennai, India operation to accelerate our cloud-native mortgage servicing software development," Sagent CEO Dan Sogorka said.

The Mortage servicing financial technology leader establishes non-US headquarters in Chennai following key partnership inked with Mr Cooper Group Inc, the company said in a statement.

In February 2022, Mr Cooper Group Inc and Sagent M&C, LLC executed a definitive agreement under which Sagent would buy certain intellectual property rights related to Mr Cooper's proprietary, cloud-based technology platform for mortgage servicing depth and Mr Cooper would receive an equity stake in Sagent.

"Sagent India is a bright team full of relevant, reliable talent and this team has a relentless commitment to the Sagent vision," Sagent, Head of India, SVP, Naren Sundram said.

Sogorka said, "With today's opening of our Chennai location, Sagent now has 520 employees along with hundreds of contractors." "We are the only major fintech firm with a global team dedicated to building core, default and consumer mortage servicing platforms for top banks and lenders," he said. PTI VIJ VIJ VIJ KH