Loan comparison platform AskRobin said to raise $1.7m in funding

Estonia-based AskRobin, which helps consumers to compare loans, has reportedly raised $1.7m in funding.

The capital injection was supported by Change Ventures, Vereeni Early Stage Fund, BENE Asia Capital and Lemonade Stand, according to a report from TechCrunch. Commitments also came from a number of angel investors from Estonia.

AskRobin provides consumers in Latin America with free credit scores and the ability to compare loan products. Its services are available in Mexico, Argentina, Colombia and Peru.

Consumers can use AskRobin to find the loan which meets their needs and they would be capable of repaying.

The marketplace lending subsector has received the largest portion of funding deals in Latin America’s FinTech scene, FinTech Global data shows. Since 2015, there have been a total of 328 FinTech deals , of which, 29% have been into marketplace lending companies. Payments and remittance is the next most popular and followed by WealthTech, with 18.9% and 15.2% of deals, respectively.

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