How Much Did CreditVidya Raise? Funding & Key Investors

CreditVidya has successfully raised funding over five rounds, with the latest being a Series B. The company is backed by seven investors, including Rick Gerson and Bharat Innovation Fund.

Keep reading to explore the intricacies of CreditVidya's fundraising journey and the investors backing this innovative platform.

What Is CreditVidya?

CreditVidya, based in Mumbai, Maharashtra, India, operates in the financial services and fintech sectors. The company specializes in offering alternate data-based credit scores for underwriting first-time borrowers using machine learning and big data analytics.

With an employee count ranging from 251 to 500, CreditVidya has been acquired by CRED. The company remains private and has successfully raised funding through five rounds, with the latest being a Series B round.

How Much Funding Has CreditVidya Raised?

1. Angel Round
   • Amount Raised: USD 39,100
   • Date: September 2014
   • Lead Investors: Siddharth Parekh
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To kickstart the company's operations and develop its initial product offerings.
2. Angel Round
   • Amount Raised: USD 59,200
   • Date: November 2014
   • Lead Investors: Siddharth Parekh
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further develop the company's technology and expand its market reach.
3. Series A Round
   • Amount Raised: USD 2,000,000
   • Date: June 2016
   • Lead Investors: Kalaari Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale the business and enhance its credit-scoring capabilities.
4. Series B Round
   • Amount Raised: USD 5,000,000
   • Date: September 2017
   • Lead Investors: Z47
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further develop and scale CreditVidya's AI-powered credit underwriting platform.
5. Series B Round
   • Amount Raised: USD 3,000,000
   • Date: January 2019
   • Lead Investors: Bharat Innovation Fund
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand CreditVidya's deep-tech credit underwriting platform and assist consumer businesses in extending credit to their customers.

Total Amount Raised: USD 10,098,300. 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: CreditVidya.
• Falcon Edge Capital
  • Details: Falcon Edge Capital is a global alternative asset management firm founded by Ryan Khoury, Navroz D. Udwadia, and Rick Gerson. The firm invests in high-growth companies across various sectors.
  • Investment Focus Areas: General alternative asset management.
  • Notable Investments: CreditVidya.
• Matrix Partners
  • Details: Matrix Partners is a venture capital firm that invests in early-stage companies. It led CreditVidya’s initial Series B round of $5 million in 2017.
  • Investment Focus Areas: Early-stage companies across various sectors.
  • Notable Investments: CreditVidya.
• Kalaari Capital
  • Details: Kalaari Capital is a venture capital firm that focuses on early-stage investments in technology-oriented companies. It led CreditVidya’s Series A funding round.
  • Investment Focus Areas: Technology, early-stage companies.
  • Notable Investments: CreditVidya.
• Siddharth Parekh
  • Details: Siddharth Parekh is an angel investor who has been involved in multiple funding rounds for CreditVidya. He is known for his investments in early-stage startups.
  • Investment Focus Areas: Early-stage startups.
  • Notable Investments: CreditVidya.

What's Next for CreditVidya?

CreditVidya stands at the cusp of significant growth opportunities. With the recent $3 million funding led by Bharat Innovation Fund, the company aims to expand its deep-tech credit underwriting platform. This expansion will enable consumer businesses in sectors like payments, e-commerce, and hospitality to extend credit to their customers, addressing specific needs such as working capital loans for MSMEs and consumer durables.

As the fintech industry continues to evolve, CreditVidya is well-positioned to leverage big data and AI to enhance credit scoring accuracy. The company’s partnerships with over 40 leading banks and NBFCs highlight its potential for future fundraising opportunities, which could further bolster its market reach and technological capabilities.

However, challenges such as maintaining the accuracy of AI algorithms and navigating regulatory requirements remain. As CreditVidya scales its operations, ensuring data privacy and competing with other fintech companies will be crucial for sustained success.

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