CrediLinq, a company backed by 1982 Ventures, is a Singapore-based platform that uses artificial intelligence (AI) for embedded finance. Last Saturday, they announced that they’ve successfully raised $8.5 million in their Series A funding round.
CrediLinq said that OM/VC and MS&AD Ventures led the round.
New investors in CrediLinq include Citi North America and the Rustem Family Office. Returning investors are 1982 Ventures, 500 Global, Epic Angels, and Big Sky Capital.
The funds will be used to help CrediLinq grow in the United States, United Kingdom, and Australia, as well as strengthen its presence in Singapore. They plan to make important hires in sales, product, and technology, and also improve their technology further.
CrediLinq will quickly expand into new regions, starting with the United States, followed by the United Kingdom and Australia.
The company plans to team up with bigger digital platforms in these markets to help grow its user base. This will allow businesses that operate online to access capital easily.
CrediLinq will strengthen its leadership team in sales, marketing, product, and technology to help support its growth in the target markets.
Much of the funds will be used to improve CrediLinq’s technology. This includes improving their AI-powered credit algorithms, which use real-time data from small businesses like platform data, unstructured data, and credit bureau information. The goal is to reduce bad loans, improve collections, and create more efficient workflows.
“Today is a key moment for CrediLinq as we speed up the growth of embedded finance worldwide. Our goal is to help digital small and medium-sized businesses easily access flexible and transparent capital.”
“With this new funding, we are excited to deepen our partnerships, expand into new markets, and invest in senior talent and technology infrastructure that will support the next phase of our growth,” said Deep Singh, Founder and Group Chief Executive Officer of CrediLinq.
Vikram Kotibhaskar, Co-Founder of CrediLinq, said the growth of embedded credit is picking up speed, and the company is leading this change.
“By being integrated within platforms, our credit-as-a-service stack leverages API connectivity, transactional data, and credit algorithms for quick decision-making at the point of need and offers easy checkout within the partner ecosystem,” he said.
He said this leads to a faster, smoother, and clearer customer experience, while also giving platforms more ways to make money from their business.
“Platform partners benefit with higher stickiness, trust, and scalability that drives up gross merchandise value (GMV),” he added.
CrediLinq is a technology company that offers a unique Credit-as-a-Service platform.
Their API-based system allows B2B platforms and banks to create financial products for merchants. This helps support digital small businesses giving them the financial tools they need to grow and succeed.
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