Bengaluru-based digital lender Capital Float announced on Monday it has completed a $15 million (Rs 110 crore) equity fund-raise from its existing investors
Multiple third-party startups are coming up to help fintechs recover dues
Capital Float raises $15 million from investors including Sequoia Capital, Ribbit Capital, among others
'Less is more’ to be the guiding principle for 2020 for the digital lender
For this users have to provide their PAN card and KYC details and users will get an instant credit.
J.A.R.V.I.S AI approach entails building automation that eliminates low risk, low value work and focuses expert judgment on very specific and precise aspects of loan decisioning.
This round of growth capital will help the company to expand its lending footprint to over 20,000 SMEs in 100+ cities, and to introduce new, transformational financial products online, according to a company press release.
Digital lending globally has begun to revolutionise the traditional lending business through the use of technology in order to reduce costs, underwrite with surrogate data points, and drastically speed up processes.