Another Lending Platform CoinTribe raises over $10 million equity capital in Series-B round led by Sabre Partners along with participation from existing investor, Puneet Dalmia.
In last one month, twelve fintech companies raise funding, the average range of funding is from $250000 to $15 million.
Gurugram based CoinTribe offers unsecured term as well as working capital financing to small businesses, which are risk assessed using an online lending algorithm.
With this round of funding, total equity capital raised by CoinTribe has increased to over USD 15 million. CoinTribe plans to use this additional capital to further enhance capabilities of its proprietary online credit algorithm, expand to new markets and further develop technology to enable faster and nimble product and credit model innovation.
For banks & NBFCs, CoinTribe plays a pivotal role in borrower acquisition, providing inputs for risk assessment, transaction fulfilment, repayment management & borrower servicing to enable them to come online and expand their reach.
CoinTribe also works with some of the leading banks to provide them white-labelled solutions so that they can provide faster loan approvals and disbursals to their customers.