CreditVidya

lendingcredit scoring

FOUNDING YEAR: 2012
LOCATION: India
Last Update: 03/09/2020

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About

CreditVidya is the leading player in the alternative credit scoring space in India. A pioneer in the domain, we are leveraging alternative data, AI and machine learning to facilitate institutional credit for the underserved.Our products are helping a large section of the salaried and self-employed population become visible to lenders, by making it financially viable for banks and NBFC's to underwrite customers for much smaller unsecured loans. 55+ leading banks and NBFCs that share our vision, rely on our products to manage the credit cycle end-to-end: Prospecting, Credit Underwriting, and Delinquency Management. With over 10,000 data points, CreditVidya's credit underwriting model is 2x more powerful than traditional bureau scores, helping banks and NBFC's underwrite 15% more individuals, including the completely new-to-credit segment (first time borrowers). To date, we have underwritten over 25 million individuals. Our products also help lenders cut the time of decision-making from several days to under five minutes, reduce costs, prevent fraud, and consequently, increase profitability. We are dedicated to our mission of making affordable credit accessible to more than 3 billion under-served people across the world.

MEDICI Analysis

CreditVidya has developed a mobile application, TrustScore, which determines a person's credit worthiness based on social media presence. The company uses non-traditional data sources such as the mobile phone recharge pattern of an individual, utility bill payments, e-commerce purchase behaviour etc. to provide a credit score for individuals who do not have a traditional credit score.

Focus

PRODUCTS & SERVICES

Score Builder, EMI Saver, Credit Planner for individuals and financial fitness workshops for corporations. It educates customers about managing and monitoring credit part of their personal financial planning and allows them to take well informed decisions.

REVENUE MODEL

B2B - Transaction basis (APIs)

MAIN CLIENTS

Induslnd bank

DBS

RBL Bank

HDFC Life

Axis Bank

Tata capital

Icici bank

Tvs credit

Bajaj Finserv

Incred

EXISTING PARTNERSHIPS

Score Builder - Rs. 9,999, EMI Saver - Rs. 3,999, Credit Planner - Rs. 1,999

PRIMARY PROBLEM SOLVED

Risk underwriting and fraud prevention platform for new-to-credit customers.

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

COMMENT

Provides opportunity to customers to get the right credit product at a cheaper rate by providing bank level analytics so that they can understand how banks are evaluating their profile based on CIBIL data and application information.

Traction

REVENUE

$0 - $99k

NUMBER OF TRANSACTIONS:

1.00

TRANSACTIONS VALUE:

1.00

ACTIVE USERS:

5 million Million in 2017

ACTIVE USERS COMMENT:

Company has 5 million unique customers (Sept 2017)

People

FOUNDERS

RAJIV RAJ

BOARD MEMBERS AND ADVISORS

Sid Parkeh

NUMBER OF EMPLOYEES

51-200

INVESTORS:

Bharat Innovation Fund

Kalaari Capital

Matrix Partners

Navroz D. Udwadia

Rick Gerson

Momentum

FUNDED

YES

TOTAL FUNDING

$10 M

DATE OF LAST FUNDING

Jan 2019

TOTAL FUNDING COMMENT

The new funds will be used to add a wide range of fraud verification services and risk assessment means to its existing big data underwriting platform. The funds will also be used to further improve AI-based algorithms that use over 10,000 data points for risk assessment.

FUNDING SERIES

SERIES A  · $2 M  · Jun 2016

SERIES B  · $5 M  · Sep 2017

SERIES C  · $3 M  · Jan 2019

LISTED

NO

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CreditVidya

About

CreditVidya is an alternate data credit scoring company. It uses over 10,000+ data points coupled with advanced machine learning algorithms to estimate probability of default.

Focus

PRODUCTS & SERVICES

Profile: Predictive behaviors basis un-structured data of customers. ID-ME: Verification service that confirms an individuals identity in real-time. TRUST-SCORE: Risk score basis alternate data.

REVENUE MODEL

B2B - Transaction basis (APIs)

TOP PROBLEM SOLVED

Risk underwriting and fraud prevention platform for new-to-credit customers.

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

KEY DIFFERENTIATORS

Technology and Data Analytics platform that processes un-structured data into actionable insights.

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

PRODUCT ATTRIBUTES

SaaS

On-premises

STRATEGIC CLIENTS AND PARTNERSHIP

Fullerton : B2B client

Traction

ANNUAL REVENUE:

$0 - $99k

NUMBER OF TRANSACTIONS:

1.00

TRANSACTIONS VALUE:

1.00

ACTIVE USERS/ACCOUNTS:

N/A Million

LIVE USERS/TRANSACTIONS:

Yes, in live production

How will you grow the number of users/accounts/transactions?

B2B partnerships

CHANNEL STATUS

MULTIPLE CHANNELS

People

NUMBER OF EMPLOYEES

51-200

TEAM COMMENT:

asd

INVESTORS:

Kalaari Capital

Momentum

FUNDED

YES

TOTAL FUNDING:

$2 M

LISTED

NO

FUNDING SERIES
Series A
Apr 2016
USD2 M
at a USD1.00valuation
Comment on Series A
Kalaari funded