09 Jun. 16, MUMBAI: Financial Technology start-up, CreditVidya raised $2 million from its investor, Kalaari Capital.
The company plans to use this capital increase its technology and data science team and boost its technology platform. The company is looking to expand to a team of 70 members by the end of this financial year from the present 37.
According to sources and reports by Mint, co-founder and chief executive at CreditVidya- Abhishek Agarwal said, “In order to give a credit score, the traditional credit bureaus have to rely on the repayment history of loans and credit cards. But if you have never taken a credit card or a loan earlier, then it’s very hard for a person to get a score and thus difficult to get a loan.”
CreditVidya was founded in 2013, the company was founded in Rajiv Raj, Abhishek Agarwal. The company has partnership with firms like Bajaj Finserv, Fullerton India and Shriram Housing Finance and provide these lenders the capability to score customers, reduce fraud rates and boost verification processes of customers.