Creditas Solutions, a FinTech startup received an unrevealed amount from Pre-Series A funding round which was run by 1Crowd, an equity crowd-funding platform.
The funds from the investment will be used to expand the company’s team, data science abilities and to invest in technology. The technology is focused on banks a single platform to manage the entire delinquency cycle.
“This new round of funding not only gives us the capital to scale exponentially but also validates the faith the Banking sector is reposing in our Solutions,” said Creditas co-founder Anshuman Panwar.
Creditas is an organization set up to help banks and non-banking financial companies (NBFCs) in enhancing customer acquisition, cross-sell, delinquency detection, financial literacy and debt recovery. They validate and enhance creditor data meant to create accurate customer profiles. They also use Machine Learning to engage customers through digital media.
The funding round also included the participation of Infina Finance, an investment company jointly owned by Kotak Mahindra Band and Uday Kotak family, angel investors Dr. Aniruddha Malpani, entrepreneur and business leader Daud Ali and the Managing Director of Kotak Investment Advisors S Sriniwasan.