wordpress blog stats
Connect with us

Hi, what are you looking for?

CreditVidya secures $5M funding from Matrix Partners India

CreditVidya, a Mumbai-based financial technology startup, has raised $5 million in a round of funding led by Matrix Partners India. The round also saw participation from existing investor Kalaari Capital, who led its previous round of Series A in 2016.

The company will use the fresh funding to add a wide range of fraud and verification services to its existing big data underwriting platform targeted at first-time borrowers. Abhishek Agarwal, Co-Founder and CEO of CreditVidya explained that its big data underwriting platform applies machine learning techniques to identify creditworthy customers who do not have any credit history.

Founded in 2013, CreditVidya provides financial institutions with a credit score for individuals mainly by using non-traditional data sources like the mobile phone recharge pattern, utility bill payments, e-commerce purchase behaviour etc. Its clientele includes Bajaj Finance Ltd., Capital First, Fullerton India, Tata Capital, Aditya Birla Finance Ltd., ICICI Bank, IndusInd Bank, TVS Credit Services, among others.

The company added in its statement that it will also use the funds to further improve AI-based credit underwriting algorithms for risk assessment. According to and ET report, CreditVidya company is also looking to scale up its employee base from 74 to 100 over the next 6-9 months.


CreditVidya competes with fintech companies such as Finomena, Lendingkart, CapitalFloat, i2ifunding- to name a few. Note that Finomena, which provides a credit history using alternate data points (similar to CreditVidya), had secured funding from Matrix Partners early last year.

Advertisement. Scroll to continue reading.

Lendingkart, which evaluates its client’s creditworthiness based on  its in-house technology tools based on big data analytics and machine learning algorithms, raised $10.51 million (~Rs 70 Crore) in form equity funding yesterday.

You May Also Like


The pandemic caused a slowdown in fintech financing in India, with overall funding falling by 23% to $2.7 billion in 2020 from $3.5 billion...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ