CreditVidya: Underwriting engine for next 100 mn borrowers

Credit Vidya combines alternative data to do the assessment

When Riyaz Ahmed from Erode in Tamil Nadu took a loan to buy a motorcycle, he had very little to show as credit history or income proof. The 23-year-old worker gets paid in cash at a local loom unit and had only bought a TV on a loan before this.

Yet, finance firms have to take a call on such customers within an hour or half to ensure they don’t walk away. Credit Vidya, a Mumbai-based start-up, helps lenders assess the credit and fraud risk for such thin-file and new-to-credit customers.

The start-up raised $5 million last week from venture capital firms