InfoCredit Services, which operates credit scoring platform CreditVidya, has raised $5m in a fresh round of funding led by US private equity firm Matrix Partners.
Tech-focused venture capital firm Kalaari has also returned as an investor, after investing $2m in June 2016.
The company said it will use the money to add a wide range of anti-fraud and verification services to its existing big data underwriting platform.
As part of the transaction, InfoCredit issued 5,951 Series B compulsorily convertible cumulative preference shares and 100 equity shares to the investors.
CreditVidya was founded in 2013 by former Experian Credit Information Company India execs Abhishek Aggarwal and Rajiv Raj.
The startup uses non-traditional data sources to assess the credit worthiness of individuals seeking loans and charges lenders for each customer.
Copyright FinTech Global 2017