New Delhi [India]: FinTech startup Creditas Solutions has raised an undisclosed amount of Pre-Series A funding round led by 1Crowd, an equity crowd-funding platform to scale operations.
The proceeds from the round will also be used by the startup to expand its team, data science capabilities and to make investments in technology, particularly to focus on providing banks a single platform to manage the entire delinquency cycle.
“This new round of funding not only gives us the capital to scale exponentially but also validates the faith the Banking sector is reposing in our Solutions,” said Creditas co-founder Anshuman Panwar.
Creditas is a Fintech organisation that helps banks and non-banking financial institutions (NBFCs) optimise customer acquisition, cross-sell, delinquency detection, financial literacy and debt recovery, validates and enhances creditor data to create accurate customer profiles, and uses Machine Learning to engage those customers through digital media.
Among other participants in this round of funding were Infina Finance, an investment company jointly owned by Kotak Mahindra Bank and Uday Kotak family, noted angel investors Dr. Aniruddha Malpani (leading IVF specialist), Daud Ali (entrepreneur and business leader) and S Sriniwasan (Managing Director – Kotak Investment Advisors). (ANI)