How SmartCoin is using deep tech models to improve credit access for India’s lower income groups
27 March 2019 8:30 PM GMT
SmartCoin, a three-year-old lending startup from Bengaluru, offers instant, mobile-based loans to millions of Indians without formal access to credit. Selected by Google Launchpad Accelerator earlier this year, it aims to quadruple its customer base in the next two years.
- Slowly, of course, the action moved to consumer lending startups like SmartCoin and others, which catered to India's vastly underserved lower-and-middle income segments.
- SmartCoin, an app-based instant loan platform for the financially underserved, too, raised $2 million in a pre-Series A round in March 2018.
- These 5 fintech platforms provide smooth finance resource for MSMEsNext phase of growth via Google LaunchpadSmartCoin's effective use of "advanced AI/ML models" to provide an alternative credit assessment to millions of cash-strapped users in India's remotest corners has earned it a place in the second batch of Google's Launchpad Accelerator Programme.
- According to YourStory Research, lending startups raised $1.21 billion in 2018, marking a 269 percent jump from 2016, when the sector had raised only about $330 million.
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