Credolab

regtechrisk managementlendingcredit scoring

FOUNDING YEAR: 2016
LOCATION: Singapore
Last Update: 01/05/2020

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About

Credolab provides subscription based tools and value-added services that enable consumer lenders to reduce the cost of risk, increase operational efficiency, and enhance profitability using big data and traditional datasets.It offers value-added services in the areas of retail risk management consulting, risk-based pricing, custom scorecard development, and data mining. It has operations in the South-East Asian region.

MEDICI Analysis

CredoLab provides white-labeled credit risk management solutions for lenders and their underbanked customers through its mobile-based platform - CredoApp . It enables lenders to provide credit to customers with no or limited banking history, reduces their credit risk, and increases their approval rate. It collects customer’s digital footprint to be used with historical client credit database to provide a credit score. The solution analyzes big data as well as traditional data sets, to perform the risk assessment. This enables lenders to offer their products to previously unbanked customers and control credit risk.

Focus

PRODUCTS & SERVICES

CredoApp collects customer’s digital footprint to be used with historical client credit database to provide a credit score. The solution analyzes big data as well as traditional data sets, to perform the risk assessment. This enables lenders to offer their products to previously unbanked customers and control credit risk.

REVENUE MODEL

Company follows subscription based revenue model.

MAIN CLIENTS

Retail customers

EXISTING PARTNERSHIPS

The company has partnerships with banks

consumer finance and other retail lenders.

PRIMARY PROBLEM SOLVED

Allows organisations to disburse loans to individuals with little or no credit history i.e. where there is no bureau data. Predominantly for emerging markets.

People

FOUNDERS

Peter Barcak

Adrian Chng

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Fintonia Group

Forum

Reliance Modal Ventura

Walden International

KEY EMPLOYEES:

Peter Barcak (CEO); Vitalii Kora (CTO); Kris Emerton-Jones (CSO)

Momentum

FUNDED

YES

TOTAL FUNDING

$2 M

DATE OF LAST FUNDING

May 2018

TOTAL FUNDING COMMENT

The company is planning to use its funds to expand internationally. (May 2018)

SEED & PRIOR FUNDING

$2 M

SEED CLOSED ON

May 2018

LISTED

NO

For Investors

MONTHS LEFT WITH CURRENT CASH BURN RATE:

24 months from 25 Sep, 2017

BASICS

FOUNDING YEAR:

2016

LOCATION:

Singapore

Views:

156 VISITORS | 266 VIEWS
LATEST FUNDING ROUND

$2 M

TOTAL EMPLOYEES
11-50

About

Credolab provides subscription based tools and value-added services that enable consumer lenders to reduce the cost of risk, increase operational efficiency, and enhance profitability using big data and traditional datasets.It offers value-added services in the areas of retail risk management consulting, risk-based pricing, custom scorecard development, and data mining. It has operations in the South-East Asian region.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

CredoLab provides white-labeled credit risk management solutions for lenders and their underbanked customers through its mobile-based platform - CredoApp . It enables lenders to provide credit to customers with no or limited banking history, reduces their credit risk, and increases their approval rate. It collects customer’s digital footprint to be used with historical client credit database to provide a credit score. The solution analyzes big data as well as traditional data sets, to perform the risk assessment. This enables lenders to offer their products to previously unbanked customers and control credit risk.

Focus+
Momentum+
People+
For Investors+
Other+

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Credolab

About

Credolab provides subscription based tools and value-added services that enable consumer lenders to reduce the cost of risk, increase operational efficiency, and enhance profitability using big data and traditional datasets.It offers value-added services in the areas of retail risk management consulting, risk-based pricing, custom scorecard development, and data mining. It has operations in the South-East Asian region.

Focus

PRODUCTS & SERVICES

Risk management platform using big data sources CredoLab partnered with banks, consumer finance companies, telecoms, and retailers to improve the financial access of under-banked consumers and improve their standard of living.

REVENUE MODEL

Company follows subscription based revenue model.

TOP PROBLEM SOLVED

Allows organisations to disburse loans to individuals with little or no credit history i.e. where there is no bureau data. Predominantly for emerging markets.

PRODUCT DEVELOPMENT STAGE

COMMERCIAL LAUNCH

PRODUCT DEVELOPMENT COMMENT

Application available on both Android and iOS.

KEY DIFFERENTIATORS

We utilise fully anonymised mobile phone data extracted using our proprietary mobile application - CredoApp. 50,000+ dat points are analysed and a credit decision is produced in less than a minute.

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

PRODUCT ATTRIBUTES

SaaS

People

FOUNDERS

Peter Barcak

Adrian Chng

NUMBER OF EMPLOYEES

11-50

KEY EMPLOYEES:

CEO, FOUNDER: Peter Barcak

CTO: Vitalii Kora

employee: Peter Barcak (CEO); Vitalii Kora (CTO); Kris Emerton-Jones (CSO)

FOUNDER: Adrian Chng

INVESTORS:

Fintonia Group

Forum

Reliance Modal Ventura

Walden International

Momentum

FUNDED

YES

LISTED

NO

FUNDING SERIES