Financial Services
CreditMantri raised private equity from Quona Capital, Elevar Equity, IDG Ventures India and Accion Venture Lab
About
CreditMantri
CreditMantri’s online platform aims to enable lenders and borrowers to better understand each other by leveraging the power of data, resulting in efficient credit decision making.
Using a combination of traditional and alternative data, CreditMantri enables consumers to create their credit profile in order to understand their credit potential. Customers can access their credit scores, learn how they can improve their credit health and in the process discover products best matched to their credit profile. On the supply side, CreditMantri provides financial institutions access to better quality consumer risk profiles
Quona Capital
Quona invests in entrepreneurs and growth-oriented businesses seeking to change how financial services are delivered in emerging markets. Quona’s mission is to combine money and meaning, investing in companies with the potential to generate an attractive return on investment and to change the world for the better. Quona believes that the rapid pace of technological innovation and adoption – even among the marginalized in our global society – creates tremendous opportunities for consumers, entrepreneurs, and investors. Quona manages the Accion Frontier Inclusion Fund (AFIF)
Newid Capital
Newid Capital invests internationally in growth-oriented financial services companies serving the underbanked. Newid currently works with companies operating outside of the USA, Canada, and Western Europe.
Background
We are pleased to announce that our client CreditMantri Finserve Pvt. Ltd. (“CreditMantri”), a leading digital platform that helps consumers take charge of their credit health and make better borrowing decisions, has raised Series B growth capital led by Quona Capital and Newid Capital. Existing investors Elevar Equity, IDG Partners and Accion Venture Lab also participated in the round.
CreditMantri will use the funds to grow its user base, strengthen the product proposition, reinforce the platform and to build out a strong team.