CreditVidya raises $5 mn in Series-B from Matrix, Kalaari

Financial technology company CreditVidya, which helps lenders underwrite loans to first-time borrowers, has raised $5 million, led by Matrix Partners. The round also saw participation from existing investor Kalaari Capital, who led its previous round in 2016.

Founded in 2013, the Mumbai-based start-up uses traditional as well as alternative data sources to provide customer profiling, credit risk assessment and fraud detection services. It helps lenders accurately assess risk of lending to new-to-credit and thin file customers.

Lenders benefit from higher approvals, lower cost of underwriting and more effective selling. Its customers include Bajaj Finance Ltd, Capital First, Fullerton India, Tata Capital, Aditya Birla Finance, IndusInd Bank, InCred and IIFL, among others.