Datacultr Expands Footprint To Nine Countries And Secured Over 1.9 Mn Loans
Datacultr, a leading global Digital Debt Collections and Risk Management start-up has announced that it has successfully expanded its footprint to nine countries such as Malaysia, Indonesia, Nigeria, Kenya, Ivory Coast, Mexico, Ecuador and Bolivia apart from India, since its launch in 2020 and secured over 1.9 Million loans, amounting to over $220mn worth of active loans till date.
The fintech start-up offers a credit recovery operating system for high-risk lending to help drive collection efficiencies and reduce delinquencies. Founded by Neel Juriasingani and Sujoy Ghosh in 2020 in Dubai, Datacultr drives collection efficiencies, reduces delinquencies, and Non-Performing Loans. Datacultr allows lenders such as Banks, Non-Banking Financial Institutions, Micro-Financing Institutions, FinTechs, and telecom operators to give out unsecured loans, at a lower risk, to unbanked and under-served.
Datacultr has the vision to bring more people under the umbrella of financial inclusion; the platform drives credit decisioning and repayments, thus enabling banks and other lending companies to lend to this segment profitably. The company also raised $1Mn in its seed funding round led by London-based Sturgeon Capital, along with Seedstars International LLC, NP Consulting LLC & Startupbootcamp Fintech, to expand its sales team and develop its technology as well as expedite the rollout of new features in fraud detection and prevention and digital collections.
Commenting on the success of their journey so far, Datacultr Co-founder, Neel Juriasingani explains “Built on strong market insights by an agile team, we have developed a comprehensive and localised tech platform now live in 9 countries with over 1.9 Million loans secured on the platform to date.” He further added, “Datacultr is delivering outstanding results on key metrics like payment defaults, NPLs, and collection efficiency and the response from our customers has been overwhelming.”
Over the past 2 years, Datacultr has on-boarded some of the largest lenders in India, and South Asia as well as telecom operators in South East Asia & Africa, and recently the company has signed up banks and FinTechs in new markets of Uzbekistan, Philippines and Egypt. Keeping itself true to its vision, Datacultr plans to build meaningful experiences for other risk segments and extend its platform to new loan products as well as industry verticals, especially credit offered at physical retail.
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 organisations 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.