CreditSeva
Funded

Managing Credit Simplified

DEAL TYPE Equity (Primary)
MINIMUM INVESTMENT SGD 50,000
FUNDRAISING GOAL SGD 300,000
HEADQUARTERS India

Investment highlights

Solving a grave unaddressed problem

- The ‘Loan-Collection’ department is not technology savvy and the loan closure process is significantly offline and manual - Banks spend around 30-70 paisa on Collection Agencies to recover every rupee of loan - Functions as an outsourced digital debt collection arm for banks and financial institutions

Early Mover Advantage

- Only company to have API integration with Banks like Fullerton, Kotak, Citi. This gives the company a direct access to the NPA assets of banks - Endorsed by 7 banks after thorough technology and security audits, giving a head-start in the competition

Technology Differentiators

- Patented a digital workflow technology to reach the defaulter through multiple channels including social & digital marketplaces - Uses AI to selectively target ‘situational-defaulters’ and incentivize them to repay the loan

Strong Partnerships

- Extended arm for FIs & Banks for loan closures namely with Fullerton, Kotak, ICICI, Citi Bank & Phoenix ARC - 20+ clients in pipeline and a customer base of 300k+ growing at 30% m-o-m

Use of proceeds

- Product Development
- Business Expansion
- Team Hiring

Background

CreditSeva serves financial intermediaries by supporting them to resolve loans; while on the other hand, serves consumers by providing them with credit management.

Offering to Banks
  • Uses data intelligence across different platforms and robo-advisory to incentivise individuals to resolve their past issues of borrowings, clear debts and repay loans
Offering to individuals
  • Offers DIY (Do it yourself) tools that enable individuals to manage and improve their credit scores

Traction

30% month-on-month user growth rate; >11,000 monthly active users