CreditMantri, a provider of credit management services to lenders and borrowers has raised $2.5 Mn Series A round of funding from IDG Ventures India, Elevar Equity and Accion Venture Lab. The startup will be using the funds raised to broaden and accelerate their platform development and to further build out their user base.
CreditMantri aims to empower consumers to know their Credit potential and benefit from this knowledge. On the CreditMantri site, customers can access their Credit Scores, learn how they can improve their Credit health, resolve past issues, reduce current borrowing costs and in the process discover products best matched to their credit profile. On the other side to the borrowers it provides a better control over their credit health through a concerted customer focused proposition.
“The extensive adoption of the digital medium by the large numbers of millenials joining the workforce and need for lenders to better understand these consumers makes the CreditMantri proposition a compelling one“, says TC Meenakshisundaram – Founder and Managing Director, IDG Ventures India Advisors.
The company, which is based out of Chennai and was co-founded by 3 ex-Citibank executives – Ranjit Punja, R Sudarshan and Gowri Mukherjee in 18 months back.
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