QuadFi plans to use this funding to provide personal loans to customers with a thin credit history. The company claims to use alternative data from domestic and international sources, and proprietary artificial intelligence and machine learning modelling to provide personal loans to underserved groups like young people and immigrants.
The company’s model takes into account customers’ future income and career trajectory. The startup targets clients with a limited credit history but ‘a strong current income and a bright financial outlook.’ The company does this in part by allowing immigrants to use the financial history they have built in the countries they have left.
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