Mumbai-based credit score startup CreditVidya has raised $2m of Series A financing, led by Kalaari Capital. The company's platform aggregates non-financial data to generate credit scores for individuals with no financial history. CreditVidya's target customers are the 800 million Indians with little or no access to the banking system
CreditVidya, a startup that analyzes data to get credit scores, announced a series A round of US$2 million from Kalaari Capital today. Founded by Abhishek Agarwal and Rajiv Raj, it operates on a simple thesis: it’s impossible to sustainably lend to those who have no financial history. Instead of taking major risks – or not lending at all – those with money should be able to analyze different data to figure out if a borrower is trustworthy. CreditVidya claims to collect and analyze over 10,000 data points, from the way people top up their phones to what they do on social networks.