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Fintech Startup Creditas Raises Pre-Series A Funding Led by 1Crowd

The round witnessed the participation of marquee investors like Infina Finance, Dr. Aniruddha Malpani, Mr. Daud Ali and Mr. S Sriniwasan

Fintech startup, Creditas Solution has raised an undisclosed amount in Pre-Series A funding round that was led by 1Crowd, an equity crowdfunding platform. The round further saw participation from marquee investors that include Infina Finance, an investment company jointly owned by Kotak Mahindra Bank and Uday Kotak family, noted angel investors Dr. Aniruddha Malpani (leading IVF specialist), Mr. Daud Ali (noted entrepreneur and business leader) and Mr. S Sriniwasan (Managing Director - Kotak Investment Advisors). This is the second round of equity financing that 1Crowd has lead for Creditas.

“This new round of funding not only gives us the capital to scale exponentially but also validates the faith the Banking sector is reposing in our Solutions,” said Anshuman Panwar, co-founder, Creditas.

“Creditas’ platform is helping Banks solve a pressing need - how to control and cure delinquencies as they scale up their retail lending operations. Their technology is solving problems that were hitherto the preserve of Call Centres and Field Agents. We believe that with increased focus and activity in the retail lending space, there is a massive opportunity for building and providing proven SaaS based digital technology solutions for Banks and NBFCs” said Venkat Subramanian, CEO, Infina Finance.

“It has been a pleasure being an angel investor in Creditas. The team is proactive, and has always been on the ball. They are growing from strength to strength by focusing on the niche segment of solving the ubiquitous pain points faced by banks in dealing with delinquent accounts by cleverly deploying technology to address this complex problem" said Dr. Malpani.

"Creditas' stack of digitization & automation products and solutions for banks and NBFCs increase productivity sharply and reduce costs. The company's overall performance and growth has been exemplary, beating all expectations. This is an excellent example of how 1Crowd continuously supports its investee companies with growth capital to help them scale greater heights" said Anil Gudibande, Co-founder of 1Crowd.

“The company’s stellar track record, excellent reputation and its team’s ability to create products that the financial space will depend on in the years to come, have reinforced our faith in their vision and execution capabilities,” said S Sriniwasan, Managing Director, Kotak Investment Advisors.

Founded in 2015 by Anshuman Panwar and Madan Srinivasan, Creditas is a Fintech organization that helps Banks and NBFCs optimise Customer Acquisition, Cross-Sell, Delinquency Detection, Financial Literacy and Debt Recovery. It does this by deploying a State of the art Data and Communication Engine that structures, validates and enhances Creditor data to create accurate customer profiles, and uses Machine Learning to engage those customers through Digital Media. The company recently roped in Neeraj Dhawan, Group President at Yes Bank, as an advisor on its team.

The proceeds from the round will be used by the startup to expand its team, data science capabilities and to make investments in Technology, particularly to focus on providing Banks a single platform to manage the entire delinquency cycle.

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FinTech Startup Creditas Pre-series A Funding 1Crowd

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