The fintech aims to invest USD 3 to 5 million over the next three years to tailor credit risk models specifically towards Indian SMEs to reach an accuracy level above 80%, as related by Express Computer. The investment will also be towards creating technology to connect to public and private databases to source inputs to automate its models as is done in Europe.
The company plans to partner with 3 or 4 banks and around 10 non-banking financial companies (NBFCs) and cover 8.5 million Indian SMEs through its models by the end of FY21.
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