Hyderabad-based Fintech startup, CreditSeva, has raised about $361K (INR 2.4 Cr) in a bridge round from investors including Pix Vine Capital and the early-stage investment arm of Infocomm Development Authority of Singapore, Infocomm Investments (IIPL), reported ET
Founded in 2011 by Satya Vishnubhotla, CreditSeva, offers a simplified tool which helps its users manage their credit effectively. It provides credit profiling of non-mainstream banking customers.
Satya Vishnubhotla, founder of CreditSeva said, “Most of our competitors charge users for service as a consultant. We would be looking at banks and financial institutions for our revenues.”
CreditSeva currently works with credit rating bureaus for score generation and is in talks to partner banks and financial product portals.
A part of the FinLab accelerator programme at Singapore, CreditSeva is the latest investment of IIPL in India. IIPL manages a startup fund of $200 Mn as part of its accelerator programme. It is currently looking to invest in startups in smart energy, financial technology and web, mobile & education technology.
Earlier, in September 2015, CreditSeva was selected to be a part of the ‘Fall 2015 Batch’ of Reliance Industries-backed GenNext Innovation Hub, in association with Microsoft Ventures that enables entrepreneurs to grow their companies through an immersive, four-month-long programme.
Prior to this, Bangalore-based Wealthy secured about $240K from angel investors including Abhishek Goyal of Tracxn Labs, Zishaan Hayath of Toppr, Arjun and Rohan Malhotra of Investopad, Harpreet Singh Grover of CoCubes, and Gagan Dugal of Matrix Cellular. Other startups in the Fintech segment include Finomena, Eko, Chillr, Fisdom and Scripbox, among others.
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