CrediLinq raises US$2.6M to allow one-click checkouts for Asian SMEs

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Singapore-based credit score underwriting startup CrediLinq has secured US$2.6 million in a financing spherical co-led by 1982 Ventures and White Enterprise Capital.

500 World, Sequoia Sprouts, Arkana Ventures, GK Plug and Play Indonesia, Sketchnote Companions, Boleh Ventures and EPIC Angels additionally joined.

The startup will use the brand new funding to speed up product growth, enter new markets, and broaden its group to assist its rising consumer base.

Established in 2021, CrediLinq makes use of synthetic intelligence, machine studying, and data-driven credit score fashions to generate the credit score scores of small and medium enterprises (SMEs). CrediLinq gives embedded fintech options that allow one-click checkouts for B2B marketplaces, corporates and fintech corporations.

CrediLinq affords two embedded fintech merchandise — B2B PayLater and GMV Financing.

Additionally Learn: 1982 Ventures closes debut US$20M seed-stage fintech fund

B2B PayLater permits consumers to carry out one-click on-line funds to suppliers. The client features entry to credit score phrases to buy provides and stock, whereas the vendor receives funds instantly. This resolution is embedded of their clients’ e-commerce platform with software programming interfaces permitting real-time credit score well being monitoring.

GMV Financing, however, permits sellers to supply credit score to their B2B clients. The optimum financing quantity is robotically decided utilizing CrediLinq’s proprietary expertise, which analyses transactions, credit score historical past, and different different knowledge sources. By enhancing threat fashions and making selections extra constantly, CrediLinq’s clients may scale back the chance of non-performing loans (NPLs) by 10 to 25 per cent.

Deep Singh, Founding father of CrediLinq, stated: “As customers, we not view digital fee capabilities as a “good to have” — we now count on it on the checkout web page of each on-line retailer. This expertise isn’t widespread for B2B e-commerce, particularly in terms of extending fee phrases and financing.”

“B2B PayLater for consumers and GMV Financing for sellers is how we’re serving to corporations bridge this on-line expertise hole and delight their clients with a quick and frictionless e-commerce expertise. The way forward for B2B funds and buying might be similar to the present client expertise, and CrediLinq is offering the core expertise to speed up this shift,” he added.

Scott Krivokopich, Co-Founder and Managing Accomplice of 1982 Ventures, commented: “Each enterprise proprietor is aware of that the B2B buying expertise nonetheless lags behind the innovation in B2C funds. As on-line B2B funds develop, the flexibility of an organization to offer a seamless credit score and fee expertise at checkout determines its long-term success.”

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The publish CrediLinq raises US$2.6M to allow one-click checkouts for Asian SMEs appeared first on e27.

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