ScoreData has closed its Series A round on an undisclosed amount, as it looks to forge partnerships with market leading organisations.
The capital injection was supplied by Silicon Valley venture capital firm Impact Venture Capital.
Additional support came from RecruitGroup, and Asha Jadeja Motwani
ScoreData enables individuals and institutions to work together to negotiate monthly payments directly with each other. This includes personal loans, insurance claims payments and reimbursements, and healthcare loans.
The company helps consumers to negotiate better deals with creditors will minimising institutional loss ratios, it claims. Through AI and machine learning, it matches customer propensities to pay while optimising return on institutional portfolios.
Impact Venture Capital founding general partner Jack Crawford said, “ScoreData is reinventing how customers and businesses engage with each other. With ScoreData’s predictive applications driven by its ScoreFast AI/ML platform, companies in the financial services, insurance, and healthcare markets will be able to anticipate customer needs, and offer more personalized solutions for their customers.
“We were very impressed with the ScoreData team, their passion, and their innovative approach to building the next generation of AI/ML powered customer engagement platform”.
ScoreData CEO Vas Bhandarkar said, “ScoreData is delighted to be partnering with Impact Venture Capital. We were very grateful for their steadfast support all through the Covid19 lockdown, their deep diligence across our customers and partners, and their insights into markets, and their extensive corporate network.”
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