First Fintec Ltd, formerly IQMS Software Limited, is a public limited company incorporated in 2000, initially launching with an IPO. The company specializes in providing web-enabled software solutions, focusing on Application Service Provision models, particularly targeting SMEs with generic MIS systems on a global scale. Initially involved in ERP development and consulting, the company faced significant setbacks due to the early 2000s recession in the USA, leading to a cash flow crisis and project stagnation.
In the financial year 2007-08, First Fintec revitalized its business with strategic investment and restructuring, acquiring a 51% stake in Tractel Solutions Inc. USA. By 2010-11, the company expanded its operations to include e-learning initiatives, issuing additional equity shares to fund diversification and expansion, and amalgamating with Pre School Analytics Pvt Ltd to enhance its service offerings. This strategic shift reflects First Fintec's focus on growth and adaptation in a competitive market.
