Singapore-based CrediLinq, an artificial intelligence (AI) and machine-learning credit underwriting firm, has raised $2.6 million.
According to a report from Technode, the funding was co-led by 1982 Ventures and White Venture Capital.
The round also saw participation from 500 Global, Sequoia Sprouts, Arkana Ventures, GK Plug and Play Indonesia, Sketchnote Partners, Boleh Ventures and EPIC Angels.
Established in 2021, CrediLinq’s goals is to create a more inclusive, accessible, digital-first and frictionless customer experience where every business can get quicker access to growth capital.
The company said its proprietary technology enables its ecosystems partners to become lenders and facilitate products including B2B BNPL and GMV financing for their clients.
CrediLinq said it will use the new funding to accelerate product development, enter new markets, and expand its team to support their growing client base.
Deep Singh, founder of CrediLinq, said, “As consumers, we no longer view digital payment capabilities as a ‘nice to have’ – we now expect it at the checkout page of every online store. This experience is not common for B2B ecommerce, especially when it comes to extending payment terms and financing. B2B PayLater for buyers and GMV Financing for sellers is how we’re helping companies bridge this online experience gap, and delight their customers with a fast and frictionless ecommerce experience.
“The future of B2B payments and purchasing will be just like the current consumer experience, and CrediLinq is providing the core technology to accelerate this shift.”
B2B payments firm Settle has recently raised $280m in a revolving credit facility from Citibank and Atalaya.
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