Insikt

lendingsoftware/whitelabel/apis (lending)

FOUNDING YEAR: 2012
LOCATION: United States
Last Update: 01/05/2020

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About

Insikt sprung from our realization that brands, not banks, will be the lenders of tomorrow. Traditional banks have little interest in making small personal loans, haven't kept up with the fast-paced world of technology, and are unequipped to harness the power of data in the evolving world of finance. Insikt's unique, data driven technology, combined with other notable strides in fintech, is reinventing the world of lending to bring credit and opportunity to the masses. As social media and other technologies create new relationships with consumers, tomorrow’s lenders will be media giants, retailers, and everyday brands, offering their customers a path into the financial mainstream. We believe that our remarkable platform, which handles scoring, servicing, technology and capital, is the future of lending. “Lending as a Service," as we describe this process, puts the power to provide fairly priced, credit-building personal loans directly in the hands of brands seeking to deepen their bonds with customers.

MEDICI Analysis

Insikt offers white label loan processing services that act as an alternative to payday loans by breaking up payments into smaller installments. It helps brands to improve their relationship with customers by providing credit-building personal loans to them. It offers "Lending as a service" and handles various functions like scoring, servicing, technology, and capital. It helps brands to offer consumer loans to the underbanked families.

Focus

PRODUCTS & SERVICES

Insikt offers 2 different solutions mainly: 1) Lending as a Service: The Lendify platform offers various services like risk analysis, funding of loans, colllections etc. 2) Fixed Income Investing: It helps organizations to diversify their investment portfolio by investing in consumer loans

REVENUE MODEL

The company generates revenue from the service fee.

PRIMARY PROBLEM SOLVED

Insikt aims to help millions of families in America advance economically by offering affordable, credit-building loans. One of our core beliefs is that mainstream credit scores leave far too many Americans out in the cold. Not having a credit score is like not having an identity in the United States, and starting a small business, buying a home, and other important events are all predicated on having good credit. Yet, millions of people who are not approved by banks never have an opportunity to build a credit history. Tomorrow's lenders will be prominent brands that have built deep customer relationships and that want to step in to help them get a fair loan. Our technology allows any company to offer responsible, credit building loans to their customers under their own brands, without having to commit the resources, developing the credit expertise, or taking the balance sheet risk necessary to do it themselves.

Traction

VALUATION / MARKET CAP:

$114.67 M in 2015

Momentum

FUNDED

YES

TOTAL FUNDING

$75.3 M

DATE OF LAST FUNDING

Dec 2018

SEED & PRIOR FUNDING

$1.3 M

SEED CLOSED ON

Mar 2013

FUNDING SERIES

SERIES A  · $7 M  · Dec 2013

SERIES B  · $17 M  · Dec 2014

SERIES C  · ---  · Aug 2017

SERIES D  · $50 M  · Dec 2017

DEBT FUNDING

$70 M

LISTED

NO

BASICS

FOUNDING YEAR:

2012

LOCATION:

United States

Views:

126 VISITORS | 210 VIEWS
LATEST FUNDING ROUND

$75.3 M

TOTAL EMPLOYEES
51-200

About

Insikt sprung from our realization that brands, not banks, will be the lenders of tomorrow. Traditional banks have little interest in making small personal loans, haven't kept up with the fast-paced world of technology, and are unequipped to harness the power of data in the evolving world of finance. Insikt's unique, data driven technology, combined with other notable strides in fintech, is reinventing the world of lending to bring credit and opportunity to the masses. As social media and other technologies create new relationships with consumers, tomorrow’s lenders will be media giants, retailers, and everyday brands, offering their customers a path into the financial mainstream. We believe that our remarkable platform, which handles scoring, servicing, technology and capital, is the future of lending. “Lending as a Service," as we describe this process, puts the power to provide fairly priced, credit-building personal loans directly in the hands of brands seeking to deepen their bonds with customers.

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

Insikt offers white label loan processing services that act as an alternative to payday loans by breaking up payments into smaller installments. It helps brands to improve their relationship with customers by providing credit-building personal loans to them. It offers "Lending as a service" and handles various functions like scoring, servicing, technology, and capital. It helps brands to offer consumer loans to the underbanked families.

Focus+
Momentum+
Traction+
People+
Other+

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Insikt

About

Insikt sprung from our realization that brands, not banks, will be the lenders of tomorrow. Traditional banks have little interest in making small personal loans, haven't kept up with the fast-paced world of technology, and are unequipped to harness the power of data in the evolving world of finance. Insikt's unique, data driven technology, combined with other notable strides in fintech, is reinventing the world of lending to bring credit and opportunity to the masses. As social media and other technologies create new relationships with consumers, tomorrow’s lenders will be media giants, retailers, and everyday brands, offering their customers a path into the financial mainstream. We believe that our remarkable platform, which handles scoring, servicing, technology and capital, is the future of lending. “Lending as a Service," as we describe this process, puts the power to provide fairly priced, credit-building personal loans directly in the hands of brands seeking to deepen their bonds with customers.

Focus

PRODUCTS & SERVICES

Small dollar credit building consumer loans and next gen private securitization marketplace.

REVENUE MODEL

The company generates revenue from the service fee.

TOP PROBLEM SOLVED

Insikt aims to help millions of families in America advance economically by offering affordable, credit-building loans. One of our core beliefs is that mainstream credit scores leave far too many Americans out in the cold. Not having a credit score is like not having an identity in the United States, and starting a small business, buying a home, and other important events are all predicated on having good credit. Yet, millions of people who are not approved by banks never have an opportunity to build a credit history. Tomorrow's lenders will be prominent brands that have built deep customer relationships and that want to step in to help them get a fair loan. Our technology allows any company to offer responsible, credit building loans to their customers under their own brands, without having to commit the resources, developing the credit expertise, or taking the balance sheet risk necessary to do it themselves.

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Enterprise - Retailers

Enterprise - Others

Small and Medium Business - Physical Retail

Small and Medium Business - Online Retail

Small And Medium Business - Other

Consumer

PRODUCT ATTRIBUTES

SaaS

On-premises

White label

Back Office

Customer facing