CredRight facilitates unsecured, collateral-free loans to chit fund subscribers. The company uses surrogate data, chit fund repayment history, CIBIL scores and other parameters of MSMEs and individuals in conjunction with financial data to build a holistic credit profile and then facilitate unsecured loans. Its mission is to better the way small businesses are funded in India. Backed by stalwarts of the chit fund industry and their partnership, the company leverages technology to bring collateral-free and hassle-free working capital loans.
Fintech startup CredRight Raises $1.3 Mn Pre-Series A Funding from YourNest and Accion