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CreditVidya, has raised $3 million in a funding round led by Bharat Innovation Fund. Ryan Khoury, Navroz D Udwadia and Rick Gerson (Founding Members of Falcon Edge Capital) also participated in the round.
This is an extension to the last round of funding, which was led by Matrix Partners. It will be used to expand the company’s deep technology credit underwriting platform. CreditVidya’s series A funding was led by Kalaari Capital, who also participated in the previous round.
Abhishek Agarwal, CEO & Co-founder of CreditVidya said, “We want to remain at the forefront of using big data and deep tech to help formal lenders to significantly expand the coverage of unsecured, retail and working capital loans. We have now profiled over 13 million customers on our AI underwriting stack, and the results have proved it to be 2X as powerful as traditional bureau scores. By relying on it, lenders are able to approve a significant 15 per cent% more applicants, with 33 per cent lower delinquency. We are really excited to have the support of our investors who share our vision.
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