A brand new credit score referencing company set as much as present real-time information to lenders has landed thousands and thousands of kilos from buyers to fund its growth.
Infact permits the sharing of shopper credit score data in real-time, which it says permits lenders’ credit score danger groups to make simpler lending choices.
The corporate argues that this technology-led method will promote monetary inclusion by permitting shoppers to rebuild their credit score profiles extra shortly.
The funding spherical is being led by AlbionVC, with distinguished buyers together with Portfolio Ventures, Outward VC and Kind Ventures additionally collaborating.
Will Mason, co-founder and chief govt of Infact, mentioned: “Legacy bureaus have done a bad job innovating in their core business and have instead chosen to innovate around the edges.
“We’re excited to construct a challenger bureau that helps right now’s lenders by treating their shoppers as individuals with wealthy and assorted monetary lives.”
Numerous main angel buyers within the credit score referencing, lending, and fintech area, together with former Google UK and Eire managing director Dan Cobley, are additionally backing Infact’s fundraising.
Mr Mason and co-founder Andy Milligan, who beforehand labored for Runpath – later acquired by FTSE-100 credit score referencing large Experian – have recruited a senior staff with expertise at corporations together with NatWest, Ratesetter and Visa.
The corporate declined to determine its preliminary batch of purchasers, which it mentioned have been aiding the launch of its first product, Affordability Engine.
