AT Capital and Life.SREDA Lead Series B Funding in Lending Data Firm Lenddo
- With demand for data solutions to profile borrower risk in emerging markets, Lenddo has closed a new round of funding from new investors.
As online based lending continues to rapidly grow, with several marketplace lenders such as Lending Club, OnDeck Capital, SoFi and Kabbage reaching billion dollar valuations, demand has been triggered for new ways of analyzing loan risk. Leading this trend are advancements in big data which firms are using to analyze non-traditional credit scoring information. Data points include reviewing borrower’s social graphs, the university they attended, their job title and what car they're driving.
Specifically in regions that lack agencies to provide traditional credit scores, demand is high for non-traditional Big Data Big Data Big data refers to the collection of data that is too complex and too large for processing by standard database tools. There is no specific quantity of data, which is set as a minimum level to be considered Big data. Image the data collected on global credit card transactions. Many governments used Big data analysis to study the recent pandemic spread. The term Big data was first introduced in 1980 by Charles Tilly.The term Big data was primarily used in computer science, statistics, and econome Big data refers to the collection of data that is too complex and too large for processing by standard database tools. There is no specific quantity of data, which is set as a minimum level to be considered Big data. Image the data collected on global credit card transactions. Many governments used Big data analysis to study the recent pandemic spread. The term Big data was first introduced in 1980 by Charles Tilly.The term Big data was primarily used in computer science, statistics, and econome risk profiling solutions. As a result, these types of data solutions have been an important driver of increasing financial inclusion in regions with high percentages of under-banked population.
Due to the complexities of creating and maintaining big data risk analysis solutions, it has led to demand for third party products which can be licensed by online lenders. Among these vendors is Lenddo, who provides P2P lenders, banks and card issuers with an API based solution that can be integrated to risk profile their clients. According to Lenddo, the firm’s solution analyzes over 12,000 data points of customers seeking loans.
Headquartered in Manilla, the Philippines, Lenddo’s services are used by firms in 10 countries. With their individual growth and that of the overall non-traditional data Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt industry, Lenddo has announced that they have closed a new Series B round of funding. The round was led by AT Capital and Life.SREDA with additional participation from existing investors investors Omidyar Network, Blumberg Capital and Golden Gate Ventures.
The new investment will allow Lenddo to fast track growth into new markets
In addition to announcing the funding, Lenddo added that Co-Founder Richard Eldridge is taking on the role of CEO as part of the financing. Commenting on the funding, Eldridge stated that “the new investment will allow Lenddo to fast track growth into new markets, expand Lenddo’s presence in its existing markets and continue to develop new innovative products”.
Also commenting, Arvind Tiku, Director and Founder of AT Capital Group, stated about their investment that: “Lenddo is solving one of the biggest business challenges restricting growth in many of the countries in which we operate by providing lenders with the risk assessment tools required to better evaluate their target clients. We are delighted to be joining Lenddo.”
As online based lending continues to rapidly grow, with several marketplace lenders such as Lending Club, OnDeck Capital, SoFi and Kabbage reaching billion dollar valuations, demand has been triggered for new ways of analyzing loan risk. Leading this trend are advancements in big data which firms are using to analyze non-traditional credit scoring information. Data points include reviewing borrower’s social graphs, the university they attended, their job title and what car they're driving.
Specifically in regions that lack agencies to provide traditional credit scores, demand is high for non-traditional Big Data Big Data Big data refers to the collection of data that is too complex and too large for processing by standard database tools. There is no specific quantity of data, which is set as a minimum level to be considered Big data. Image the data collected on global credit card transactions. Many governments used Big data analysis to study the recent pandemic spread. The term Big data was first introduced in 1980 by Charles Tilly.The term Big data was primarily used in computer science, statistics, and econome Big data refers to the collection of data that is too complex and too large for processing by standard database tools. There is no specific quantity of data, which is set as a minimum level to be considered Big data. Image the data collected on global credit card transactions. Many governments used Big data analysis to study the recent pandemic spread. The term Big data was first introduced in 1980 by Charles Tilly.The term Big data was primarily used in computer science, statistics, and econome risk profiling solutions. As a result, these types of data solutions have been an important driver of increasing financial inclusion in regions with high percentages of under-banked population.
Due to the complexities of creating and maintaining big data risk analysis solutions, it has led to demand for third party products which can be licensed by online lenders. Among these vendors is Lenddo, who provides P2P lenders, banks and card issuers with an API based solution that can be integrated to risk profile their clients. According to Lenddo, the firm’s solution analyzes over 12,000 data points of customers seeking loans.
Headquartered in Manilla, the Philippines, Lenddo’s services are used by firms in 10 countries. With their individual growth and that of the overall non-traditional data Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt industry, Lenddo has announced that they have closed a new Series B round of funding. The round was led by AT Capital and Life.SREDA with additional participation from existing investors investors Omidyar Network, Blumberg Capital and Golden Gate Ventures.
The new investment will allow Lenddo to fast track growth into new markets
In addition to announcing the funding, Lenddo added that Co-Founder Richard Eldridge is taking on the role of CEO as part of the financing. Commenting on the funding, Eldridge stated that “the new investment will allow Lenddo to fast track growth into new markets, expand Lenddo’s presence in its existing markets and continue to develop new innovative products”.
Also commenting, Arvind Tiku, Director and Founder of AT Capital Group, stated about their investment that: “Lenddo is solving one of the biggest business challenges restricting growth in many of the countries in which we operate by providing lenders with the risk assessment tools required to better evaluate their target clients. We are delighted to be joining Lenddo.”