Delhi-based credit underwriting and analytics startup IndiaLends has attracted American Express’ venture arms for its $4m funding round.
Existing backers DSG Consumer Partners, Chinese investment firm Cyber Carrier VC and AdvantEdge Partners also participated in the round.
IndiaLends offers an online marketplace where users can shop around and compare banks’ loan products as well as access their credit scores and financial education.
The company claims its site attracts more than 140,000 visitors each month and in addition to helping consumers access cheaper credit it also offers risk scoring and data analytics solutions to financial firms.
The funding from the new round brings the total raised by IndiaLends to around $5m.
The capital will be used to further beef up the company’s underwriting and analytics capabilities as well as increasing its footprint across the region.
IndiaLends co-founder Gaurav Chopra said the funding will also be used to offer the company, “access to resources and learnings from developed fintech markets such as the US and China.”
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