Business

Datacultr expanded its scope to nine nations and obtained over 1.9 million loans totaling over $220 million in credit

Datacultr, founded in 2020 in Dubai by Neel Juriasingani and Sujoy Ghosh, drives collection efficiencies, decreases delinquencies, and Non-Performing Loans.

Datacultr enables lenders such as banks, non-banking financial institutions, micro-financing institutions, fintechs, and telecom operators to make unsecured loans to the unbanked and underserved.

Datacultr, a leading global Digital Debt Collections and Risk Management start-up, today announced that since its launch in 2020.

It has successfully expanded its footprint to 9 countries, including Malaysia, Indonesia, Nigeria, Kenya, Ivory Coast, Mexico, Ecuador, and Bolivia, and secured over 1.9 million loans totaling over $220 million in active loans.

The fintech startup provides a credit recovery operating system for high-risk loans in order to improve collection efficiency and reduce delinquencies.

Datacultr’s mission is to bring more individuals under the financial inclusion umbrella; the platform drives credit decisioning and repayments, allowing banks and other lending organisations to economically lend to this group.

In addition, the company raised $1 million in a seed funding round led by London-based Sturgeon Capital, as well as Seedstars International LLC, NP Consulting LLC, and Startup boot camp Fintech, to expand its sales team and develop its technology, as well as accelerate the rollout of new features in fraud detection and prevention and digital collections.

“Built on strong market insights by an agile team, we have established a comprehensive and localised tech platform presently live in 9 countries with over 1.9 Million loans obtained on the platform to date, Datacultr is generating exceptional outcomes on key indicators such as payment defaults, NPLs, and collection efficiency, and the feedback from our customers has been amazing.”

says Datacultr Co-founder Neel Juriasingani.

Over the last two years, Datacultr has signed up some of India’s and South Asia’s largest lenders, as well as telecom carriers in South East Asia and Africa, and the firm has recently signed on banks and FinTechs in new markets such as Uzbekistan, the Philippines, and Egypt.

To stay true to its goal, Datacultr intends to create meaningful experiences for other risk sectors and to expand its platform to other loan products and industry verticals, particularly credit offered in physical retail.

ABOUT

Datacultr is a global Digital Operating System for Credit Recovery, it drives collection efficiencies, reduces delinquencies and Non-Performing Loans (NPLs).

Datacultr is a digital-only provider of consumer engagement, recovery and collection solutions, helping consumer lending, retail, telecom and Fintech organizations since 2019.
Datacultr’s platform makes the underserved and unbanked segment viable, for providers of Buy Now Pay Later, Micro-Loans, Nano-Loans and other unsecured loans.
Datacultr is also helping millions of new to credit consumers across emerging markets access formal credit and begin their journey towards financial health. Datacultr has clients across India, South Asia, South East Asia, Africa and LATAM

Datacultr Drives Credit Decisioning and Repayments:

Datacultr allows lending companies to significantly reduce their risk on ‘New to Credit’ customers, by converting their smartphones into a virtual collateral.
A smartphone is a high value utility for most low & middle income people and hence is a smart choice of a collateral.
Datacultr allows the lender to influence repayments, via ML-driven interventions, that help:
  • Educate the first time borrower, using high quality financial & digital literacy content
  • Engage & Remind about critical due dates and milestones
  • Automate collection processes, that bring in higher collection efficiencies at lower costs
The platform’s fraud prediction module is built to provide alerts/triggers to the lender, that indicate fraud or unusual behaviour, with tools to take real-time action, significantly impacting default rates & NPLs
This article was shared with Prittle Prattle News as a Press Release.
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