How Much Did CreditVidya Raise? Funding & Key Investors

CreditVidya has successfully raised multiple funding rounds, with the last being a Series B round closed on January 28, 2019. The company has been acquired by CRED in a cash and stock deal announced on November 29, 2022.

Backed by seven investors, including Rick Gerson and Bharat Innovation Fund, CreditVidya continues to innovate in the field of credit underwriting using alternative data and advanced analytics. Keep reading to explore the intricacies of CreditVidya's fundraising journey and the investors backing this innovative platform.

What Is CreditVidya?

Founded in 2012, CreditVidya is a private company based in Mumbai, Maharashtra, India. The company was established by Abhishek Agarwal and Rajiv Raj.

Operating in the credit, financial services, fintech, machine learning, and risk management industries, CreditVidya employs between 251 and 500 people. The company specializes in offering alternate data-based credit scores for underwriting first-time borrowers using machine learning and big data analytics.

How Much Funding Has CreditVidya Raised?

1. Angel Round
   • Amount Raised: $39.1K
   • Date: September 2014
   • Lead Investors: Siddharth Parekh
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To kickstart operations and develop the initial technology platform.
2. Angel Round
   • Amount Raised: $59.2K
   • Date: November 2014
   • Lead Investors: Siddharth Parekh
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further develop the technology platform and expand initial operations.
3. Series A
   • Amount Raised: $2M
   • Date: June 2016
   • Lead Investors: Kalaari Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance the AI underwriting stack.
4. Series B
   • Amount Raised: $5M
   • Date: September 2017
   • Lead Investors: Z47
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the deep-tech credit underwriting platform and assist consumer businesses in extending credit.
5. Series B (Extended)
   • Amount Raised: $3M
   • Date: January 2019
   • Lead Investors: Bharat Innovation Fund
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further expand the credit underwriting platform and leverage leadership in the market.

Total Amount Raised: $10.1M. Current Valuation: Not publicly disclosed.

Key Investors

• Bharat Innovation Fund
  • Details: Bharat Innovation Fund is a $100M early-stage venture fund affiliated with the Indian Institute of Management (IIM) Ahmedabad. It focuses on deep-tech and IP-driven innovations.
  • Investment Focus Areas: Healthcare, agriculture, energy, fintech, digital.
  • Notable Investments: Not specified in the sources.
• Falcon Edge Capital
  • Details: Falcon Edge Capital is a global alternative asset manager founded by Ryan Khoury, Navroz D. Udwadia, and Rick Gerson. The firm focuses on long-term investments.
  • Investment Focus Areas: Technology, growth-stage companies.
  • Notable Investments: Not specified in the sources.
• Matrix Partners
  • Details: Matrix Partners is a venture capital firm that invests in early-stage companies across various sectors. It led CreditVidya’s initial Series B round.
  • Investment Focus Areas: Technology, consumer sectors.
  • Notable Investments: Not specified in the sources.
• Kalaari Capital
  • Details: Kalaari Capital is a venture capital firm that led CreditVidya’s Series A funding. It focuses on early-stage startups in India.
  • Investment Focus Areas: Technology, early-stage startups.
  • Notable Investments: Not specified in the sources.
• Siddharth Parekh
  • Details: Siddharth Parekh is an angel investor who participated in CreditVidya’s early funding rounds. He is known for his investments in technology startups.
  • Investment Focus Areas: Technology, early-stage startups.
  • Notable Investments: Not specified in the sources.

What's Next for CreditVidya?

CreditVidya stands at the cusp of significant opportunities, poised to expand its deep-tech credit underwriting platform. By leveraging big data and AI, the company aims to assist consumer businesses in sectors like payments, e-commerce, and hospitality in extending credit to their customers. This expansion could potentially make affordable credit accessible to over 3 billion underserved people globally.

Future fundraising opportunities appear promising, given the involvement of prominent investors like Bharat Innovation Fund and Falcon Edge Capital. The company's ongoing advancements in machine learning and big data analysis are likely to attract further investment, supporting its growth and technological enhancements.

However, challenges lie ahead. CreditVidya must navigate competition from other fintech companies, ensure data privacy and security, and adapt to regulatory changes. Despite these hurdles, the company's innovative approach and strong investor backing position it well for future success.

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