Founders: Peter Barcak
Funding: Raised over US$1M following an oversubscribed pre-series A round led by Fintonia Group with additional participation from a group of Asian institutional investors. Start of operations: 2016
Credolab’s app provides highly predictive credit scoring solutions for consumer lenders based on mobile phone data. It respects customer privacy by obtaining metadata with full customer consent and guaranteed data anonymity. Credolab extracts a unique and anonymous digital footprint from the user’s mobile phone which is then turned into predictive credit scorecards. The credit profiles can then be shown to lenders should the time come that the user will require a loan.