This fundraise also saw the participation of several existing and new investors including DMI Alternative Investment Fund and US-based Top Shelf Equity Partners.
PTI
November 09, 2022 / 12:25 PM IST
Monsoon CreditTech, a Fintech startup has raised funds from a group of investors led by HDFC Capital.
This fundraise also saw the participation of several existing and new investors including DMI Alternative Investment Fund and US-based Top Shelf Equity Partners.
Some prominent angel investors from across the globe including Vellayan Subbiah and Akash Bhanshali of the Enam Group also participated in the capital raise, Monsoon CreditTech said in a statement.
The company, however, did not disclose the financial details of the fundraise.
The company’s Machine Learning Powered Predictive Models are used by lenders for various credit and risk use cases such as loan underwriting, risk assessment, cross-selling, customer attrition management, collections optimization and risk-based pricing.
The machine learning-powered technology helps lenders reduce loan delinquencies by up to 30 per cent, raise approvals by up to 25 per cent, reduce customer attrition and improve cross-sell by up to 30 per cent, it claimed.
The partnership with HDFC Capital will help propel the next phase of growth for the company, Monsoon CreditTech founder CEO Ashwini Anand said.
He said that the company has launched Thoth, a proprietary analytics platform, that would enable any business user with no knowledge of programming or data science to build advanced and ready-to-deploy machine learning (ML) models in just 4 to 6 hours and analyze their (model) performance on real-world data.
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