Digital risk company CredoLab has secured $7m in a Series A round led by global identity data intelligence company GBG.
CredoLab was launched in 2016 with the mission to make credit available to everyone and has since powered over $2bn in loans.
It uses data points to develop digital scorecards for businesses that need to make better risk decisions such as banks, lenders, e-commerce ventures, travel companies, ride-hailing businesses, e-wallet ventures, insurance companies and retailers.
The round follows a $1m investment into CredoLab in 2018, which was injected by Walden International.
In October 2019, the alternative credit scoring FinTech inked a partnership with iovation, the reputation insights company specialising in device-based fraud detection, to fight credit fraud.
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