Technology-enabled credit and reporting platform Recordent has reportedly raised $400,000 in an angel funding round.
The capital was supplied by IIM Calcutta Innovation Park, the family office of Kantamaneni, and other investors from India and the US, according to a report from VCCiRCLE.
With the funds, Recordent hopes to enhance its platform with a better-connected customer experience by deepening the use of AI and machine learning technology. It also plans bolster customer acquisition efforts and build new solutions for small and medium-sized businesses.
Recordent is also looking to work with other FinTech service providers and banks to provide more alternative financing options to businesses.
The company’s goal is to double its client portfolio to over 25,000 businesses by March 2022.
Businesses can leverage the platform to submit customer dues, recover payments faster and reduce risk before offering credit. Through the platform, a user can also check the payment history of a customer.
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